Verity Asset Management Inc. Makes New $53,000 Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Verity Asset Management Inc. bought a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 49,810 shares of the semiconductor company’s stock, valued at approximately $53,000. Verity Asset Management Inc. owned about 0.09% of SolarEdge Technologies as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SEDG. Geode Capital Management LLC boosted its holdings in SolarEdge Technologies by 63.8% during the 4th quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock valued at $226,980,000 after acquiring an additional 316,001 shares during the period. Robeco Schweiz AG purchased a new position in SolarEdge Technologies during the 1st quarter valued at about $94,454,000. 1832 Asset Management L.P. purchased a new position in SolarEdge Technologies during the 1st quarter valued at about $86,575,000. Clearbridge Investments LLC boosted its holdings in SolarEdge Technologies by 120.4% during the 1st quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock valued at $153,570,000 after acquiring an additional 260,203 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in SolarEdge Technologies by 33.7% during the 4th quarter. William Blair Investment Management LLC now owns 893,189 shares of the semiconductor company’s stock valued at $250,602,000 after acquiring an additional 225,021 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Trading Down 2.9 %

Shares of SEDG stock opened at $313.25 on Friday. The business’s 50 day moving average is $300.92 and its two-hundred day moving average is $290.82. SolarEdge Technologies, Inc. has a twelve month low of $200.86 and a twelve month high of $389.71. The company has a market capitalization of $17.35 billion, a P/E ratio of 122.36, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The company has a current ratio of 3.73, a quick ratio of 2.96 and a debt-to-equity ratio of 0.33.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 earnings per share 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. Equities analysts forecast that SolarEdge Technologies, Inc. will post 4.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Needham & Company LLC lowered their target price on SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, August 3rd. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research report on Saturday, July 2nd. JPMorgan Chase & Co. increased their price target on SolarEdge Technologies from $373.00 to $419.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. TheStreet raised SolarEdge Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, August 2nd. Finally, Oppenheimer increased their price target on SolarEdge Technologies from $334.00 to $400.00 in a research report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $359.68.

Insider Activity at SolarEdge Technologies

In related news, VP Rachel Prishkolnik sold 1,900 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $301.58, for a total value of $573,002.00. Following the sale, the vice president now directly owns 12,581 shares in the company, valued at $3,794,177.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other SolarEdge Technologies 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 sale, the vice president now directly owns 12,581 shares in the company, valued at $3,794,177.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Meir Adest sold 7,722 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $312.83, for a total value of $2,415,673.26. Following the sale, the vice president now owns 168,335 shares in the company, valued at $52,660,238.05. The disclosure for this sale can be found here. Insiders have sold a total of 18,771 shares of company stock worth $5,773,667 over the last three months. 1.17% of the stock is currently owned by corporate insiders.

SolarEdge Technologies Profile

(Get Rating)

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.

See Also

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

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.