Candriam Luxembourg S.C.A. Sells 13,937 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Candriam Luxembourg S.C.A. lessened its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,003 shares of the semiconductor company’s stock after selling 13,937 shares during the period. Candriam Luxembourg S.C.A. owned approximately 0.14% of SolarEdge Technologies worth $25,145,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SEDG. Vanguard Group Inc. grew its holdings in shares of SolarEdge Technologies by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,083,190 shares of the semiconductor company’s stock worth $671,558,000 after acquiring an additional 37,181 shares during the period. Pictet Asset Management SA boosted its position in SolarEdge Technologies by 30.1% in the fourth quarter. Pictet Asset Management SA now owns 1,284,822 shares of the semiconductor company’s stock worth $360,483,000 after purchasing an additional 297,272 shares during the last quarter. William Blair Investment Management LLC boosted its position in SolarEdge Technologies by 6.3% in the first quarter. William Blair Investment Management LLC now owns 949,889 shares of the semiconductor company’s stock worth $306,216,000 after purchasing an additional 56,700 shares during the last quarter. Geode Capital Management LLC boosted its position in SolarEdge Technologies by 63.8% in the fourth quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock worth $226,980,000 after purchasing an additional 316,001 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in SolarEdge Technologies by 0.5% in the fourth quarter. Impax Asset Management Group plc now owns 754,007 shares of the semiconductor company’s stock worth $210,837,000 after purchasing an additional 3,938 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

SEDG opened at $314.16 on Friday. The business has a fifty day moving average of $296.96 and a 200 day moving average of $289.24. SolarEdge Technologies, Inc. has a 52-week low of $200.86 and a 52-week high of $389.71. The company has a quick ratio of 2.96, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. The stock has a market cap of $17.40 billion, a P/E ratio of 122.72, a PEG ratio of 2.55 and a beta of 1.24.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.53). SolarEdge Technologies had a net margin of 5.78% and a return on equity of 8.56%. The business had revenue of $727.77 million for the quarter, compared to analysts’ expectations of $725.75 million. As a group, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post 4.21 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SEDG. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research report on Saturday, July 2nd. Guggenheim raised their target price on SolarEdge Technologies from $348.00 to $389.00 in a research report on Wednesday, August 3rd. Needham & Company LLC dropped their target price on SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. lifted their price objective on SolarEdge Technologies from $373.00 to $419.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Finally, Barclays initiated coverage on SolarEdge Technologies in a research report on Friday, August 5th. They set an “equal weight” rating and a $389.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $359.68.

Insider Activity at SolarEdge Technologies

In related news, VP Rachel Prishkolnik sold 1,900 shares of the business’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $301.58, for a total transaction of $573,002.00. Following the completion of the transaction, the vice president now owns 12,581 shares in the company, valued at approximately $3,794,177.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SolarEdge Technologies news, VP Rachel Prishkolnik sold 1,900 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $301.58, for a total transaction of $573,002.00. Following the transaction, the vice president now owns 12,581 shares of the company’s stock, valued at approximately $3,794,177.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Meir Adest sold 7,722 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $312.83, for a total transaction of $2,415,673.26. Following the transaction, the vice president now directly owns 168,335 shares in the company, valued at approximately $52,660,238.05. The disclosure for this sale can be found here. Insiders sold a total of 18,274 shares of company stock worth $5,406,879 in the last quarter. 1.17% of the stock is owned by company insiders.

SolarEdge Technologies Company Profile

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SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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