Maryland State Retirement & Pension System Purchases Shares of 20,648 SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Maryland State Retirement & Pension System bought a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,648 shares of the semiconductor company's stock, valued at approximately $1,933,000.

Several other institutional investors have also modified their holdings of the business. Commonwealth Equity Services LLC grew its stake in SolarEdge Technologies by 15.5% in the third quarter. Commonwealth Equity Services LLC now owns 5,884 shares of the semiconductor company's stock worth $762,000 after purchasing an additional 791 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in SolarEdge Technologies by 53.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,142 shares of the semiconductor company's stock worth $277,000 after purchasing an additional 747 shares during the last quarter. Xponance Inc. boosted its holdings in SolarEdge Technologies by 23.1% in the third quarter. Xponance Inc. now owns 6,254 shares of the semiconductor company's stock worth $810,000 after purchasing an additional 1,173 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in SolarEdge Technologies by 23.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,639 shares of the semiconductor company's stock worth $1,119,000 after purchasing an additional 1,663 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of SolarEdge Technologies by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 402,541 shares of the semiconductor company's stock worth $52,133,000 after purchasing an additional 12,649 shares during the period. Institutional investors and hedge funds own 95.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SEDG. Canaccord Genuity Group started coverage on shares of SolarEdge Technologies in a research report on Tuesday, January 16th. They set a "hold" rating and a $80.00 price objective for the company. Scotiabank cut their price target on SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 21st. Royal Bank of Canada reduced their price objective on SolarEdge Technologies from $85.00 to $77.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 21st. BMO Capital Markets dropped their target price on SolarEdge Technologies from $85.00 to $80.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 21st. Finally, Roth Mkm reduced their price target on shares of SolarEdge Technologies from $76.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $97.62.

Insider Transactions at SolarEdge Technologies

In other news, Director More Avery bought 7,000 shares of the business's stock in a transaction on Thursday, February 29th. The shares were bought at an average cost of $67.75 per share, with a total value of $474,250.00. Following the purchase, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.17% of the stock is currently owned by insiders.

SolarEdge Technologies Price Performance

Shares of SEDG traded down $1.16 during trading hours on Wednesday, hitting $57.55. 3,083,031 shares of the company were exchanged, compared to its average volume of 2,340,976. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The company has a market capitalization of $3.30 billion, a PE ratio of 127.89 and a beta of 1.53. The firm has a fifty day simple moving average of $64.75 and a 200-day simple moving average of $74.12. SolarEdge Technologies, Inc. has a one year low of $53.59 and a one year high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts' consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, sell-side analysts predict that SolarEdge Technologies, Inc. will post -4.68 earnings per share for the current year.

About SolarEdge Technologies

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.