North Growth Management Ltd. Has $7.59 Million Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

North Growth Management Ltd. increased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 58.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,000 shares of the semiconductor company's stock after purchasing an additional 30,000 shares during the quarter. North Growth Management Ltd. owned 0.14% of SolarEdge Technologies worth $7,588,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Altshuler Shaham Ltd raised its stake in shares of SolarEdge Technologies by 143.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company's stock worth $2,701,000 after buying an additional 12,302 shares during the last quarter. International Assets Investment Management LLC increased its holdings in SolarEdge Technologies by 20,293.3% during the 4th quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company's stock valued at $9,716,000 after acquiring an additional 103,293 shares in the last quarter. Royal London Asset Management Ltd. raised its position in SolarEdge Technologies by 5.4% during the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company's stock worth $2,782,000 after acquiring an additional 1,101 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in shares of SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company's stock valued at $66,000 after purchasing an additional 500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of SolarEdge Technologies by 129.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 205,814 shares of the semiconductor company's stock valued at $19,264,000 after purchasing an additional 116,176 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SEDG. Citigroup cut their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a "neutral" rating for the company in a research report on Thursday. BMO Capital Markets cut their target price on shares of SolarEdge Technologies from $73.00 to $56.00 and set a "market perform" rating on the stock in a research note on Thursday. Canaccord Genuity Group assumed coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They issued a "hold" rating and a $80.00 price target for the company. Royal Bank of Canada reduced their price objective on SolarEdge Technologies from $74.00 to $71.00 and set a "sector perform" rating on the stock in a research note on Thursday. Finally, Janney Montgomery Scott lowered SolarEdge Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of "Hold" and a consensus price target of $87.12.

SolarEdge Technologies Stock Up 5.5 %

SolarEdge Technologies stock traded up $2.74 during midday trading on Monday, hitting $52.21. The stock had a trading volume of 3,319,959 shares, compared to its average volume of 2,413,893. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average price of $63.64 and a 200 day moving average price of $73.26. SolarEdge Technologies, Inc. has a 12 month low of $48.82 and a 12 month high of $313.55. The stock has a market cap of $2.99 billion, a P/E ratio of -11.23 and a beta of 1.53.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. Research analysts predict that SolarEdge Technologies, Inc. will post -4.68 EPS for the current year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.17% of the company's stock.

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.