SolarEdge Technologies, Inc. (NASDAQ:SEDG) Position Trimmed by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,377 shares of the semiconductor company's stock after selling 11,688 shares during the period. Dimensional Fund Advisors LP owned approximately 0.10% of SolarEdge Technologies worth $794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in SolarEdge Technologies by 14.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after buying an additional 641,915 shares in the last quarter. Invesco Ltd. lifted its position in shares of SolarEdge Technologies by 5.0% in the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock valued at $33,254,000 after acquiring an additional 116,809 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of SolarEdge Technologies by 67.6% during the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after acquiring an additional 512,035 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of SolarEdge Technologies by 0.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company's stock valued at $13,760,000 after acquiring an additional 8,079 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after purchasing an additional 564,490 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SEDG shares. Roth Mkm raised their price target on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, February 21st. BMO Capital Markets lowered shares of SolarEdge Technologies from a "market perform" rating to an "underperform" rating and raised their target price for the stock from $13.00 to $15.00 in a research report on Thursday, February 20th. Susquehanna lowered their target price on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company reduced their price target on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group lowered their price objective on SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a research report on Tuesday, April 15th. Twelve research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.44.

SolarEdge Technologies Stock Down 0.5%

SolarEdge Technologies stock traded down $0.11 during midday trading on Tuesday, hitting $20.65. 4,584,003 shares of the stock were exchanged, compared to its average volume of 4,476,314. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $53.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The firm has a market cap of $1.22 billion, a P/E ratio of -0.66 and a beta of 1.50. The company has a 50 day moving average price of $15.16 and a two-hundred day moving average price of $14.77.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The business had revenue of $219.48 million for the quarter, compared to analysts' expectations of $205.39 million. During the same quarter in the previous year, the firm posted ($1.90) earnings per share. The company's revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts predict that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the completion of the transaction, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This trade represents a 12.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company's stock.

SolarEdge Technologies 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.