Van ECK Associates Corp Acquires 20,356 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Van ECK Associates Corp boosted its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,938 shares of the semiconductor company's stock after acquiring an additional 20,356 shares during the period. Van ECK Associates Corp owned 0.25% of SolarEdge Technologies worth $13,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in SolarEdge Technologies during the third quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new position in shares of SolarEdge Technologies in the fourth quarter worth $30,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of SolarEdge Technologies by 194.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company's stock worth $36,000 after buying an additional 183 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of SolarEdge Technologies by 4,000.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 410 shares of the semiconductor company's stock worth $53,000 after buying an additional 400 shares during the last quarter. Finally, NewSquare Capital LLC raised its holdings in shares of SolarEdge Technologies by 4,066.7% in the third quarter. NewSquare Capital LLC now owns 500 shares of the semiconductor company's stock worth $65,000 after buying an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SEDG shares. Canaccord Genuity Group started coverage on shares of SolarEdge Technologies in a report on Tuesday, January 16th. They issued a "hold" rating and a $80.00 price target for the company. The Goldman Sachs Group cut their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a "sell" rating on the stock in a research note on Wednesday, January 24th. Scotiabank cut their price objective on shares of SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 21st. Mizuho cut their price objective on shares of SolarEdge Technologies from $106.00 to $104.00 and set a "buy" rating on the stock in a research note on Friday, April 19th. Finally, TD Cowen cut their price objective on shares of SolarEdge Technologies from $120.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $98.38.

Insider Buying and Selling at SolarEdge Technologies

In other news, Director More Avery bought 7,000 shares of the company's stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.17% of the company's stock.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG traded up $1.56 during mid-day trading on Thursday, hitting $59.66. 1,465,794 shares of the company's stock traded hands, compared to its average volume of 2,354,324. The firm has a 50 day moving average of $65.45 and a two-hundred day moving average of $75.91. SolarEdge Technologies, Inc. has a 12 month low of $53.59 and a 12 month high of $315.34. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 129.11 and a beta of 1.53. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts' consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. On average, equities analysts forecast that SolarEdge Technologies, Inc. will post -4.62 earnings per share for the current fiscal year.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.