Engineers Gate Manager LP increased its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 462.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,901 shares of the semiconductor company’s stock after purchasing an additional 8,142 shares during the period. Engineers Gate Manager LP’s holdings in SolarEdge Technologies were worth $3,192,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in SEDG. Chilton Capital Management LLC acquired a new position in SolarEdge Technologies during the fourth quarter worth about $28,000. Confluence Wealth Services Inc. acquired a new position in SolarEdge Technologies during the fourth quarter worth about $33,000. First Horizon Advisors Inc. grew its position in SolarEdge Technologies by 274.1% during the first quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company’s stock worth $33,000 after buying an additional 74 shares during the period. Global Wealth Management Investment Advisory Inc. grew its position in SolarEdge Technologies by 1,140.0% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 124 shares of the semiconductor company’s stock worth $35,000 after buying an additional 114 shares during the period. Finally, UMB Bank N A MO acquired a new position in SolarEdge Technologies during the fourth quarter worth about $36,000. 81.86% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have weighed in on SEDG shares. Guggenheim upped their target price on shares of SolarEdge Technologies from $348.00 to $389.00 in a research report on Wednesday, August 3rd. TheStreet upgraded shares of SolarEdge Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, August 2nd. Morgan Stanley increased their price target on shares of SolarEdge Technologies from $316.00 to $352.00 and gave the company an “equal weight” rating in a research report on Thursday, August 18th. JPMorgan Chase & Co. increased their price target on shares of 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 assumed coverage on shares of SolarEdge Technologies in a research report on Friday, August 5th. They issued an “equal weight” rating and a $389.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $359.68.
SolarEdge Technologies Stock Performance
NASDAQ:SEDG opened at $313.00 on Monday. 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 company has a market cap of $17.34 billion, a P/E ratio of 122.27, a P/E/G ratio of 2.66 and a beta of 1.24. SolarEdge Technologies, Inc. has a fifty-two week low of $200.86 and a fifty-two week high of $389.71. The firm’s 50 day moving average is $297.69 and its two-hundred day moving average is $290.22.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last issued its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 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 during the quarter, compared to analysts’ expectations of $725.75 million. Analysts expect that SolarEdge Technologies, Inc. will post 4.05 EPS for the current year.
SolarEdge Technologies Profile
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.
- Get a free copy of the StockNews.com research report on SolarEdge Technologies (SEDG)
- Can Electronic Arts Buck the Downturn in Videogaming?
- Dollar General is the Big Fish in Little Ponds Across the U.S.
- Here’s Why the CPI Report will Dictate the Market Bottom
- MarketBeat: Week in Review 9/5 – 9/9
- Prepare For A Record-Setting Quarter For Cyber Security Stocks
Receive News & Ratings for SolarEdge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SolarEdge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.