Marshall Wace LLP bought a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,478 shares of the semiconductor company’s stock, valued at approximately $6,129,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ETF Managers Group LLC boosted its stake in shares of SolarEdge Technologies by 8.2% during the third quarter. ETF Managers Group LLC now owns 34,755 shares of the semiconductor company’s stock valued at $8,044,000 after purchasing an additional 2,620 shares in the last quarter. Echo Street Capital Management LLC acquired a new stake in shares of SolarEdge Technologies during the third quarter valued at about $520,000. Engineers Gate Manager LP acquired a new stake in shares of SolarEdge Technologies during the third quarter valued at about $4,926,000. Ethic Inc. acquired a new stake in shares of SolarEdge Technologies during the third quarter valued at about $272,000. Finally, Federated Hermes Inc. boosted its stake in shares of SolarEdge Technologies by 34.4% during the third quarter. Federated Hermes Inc. now owns 148,597 shares of the semiconductor company’s stock valued at $34,394,000 after purchasing an additional 38,037 shares in the last quarter. Institutional investors own 80.01% of the company’s stock.
In related news, insider Meir Adest sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $316.57, for a total transaction of $1,582,850.00. Following the completion of the sale, the insider now owns 139,068 shares in the company, valued at $44,024,756.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.17% of the company’s stock.
Analyst Ratings Changes
SolarEdge Technologies Trading Down 2.9 %
NASDAQ SEDG opened at $304.32 on Monday. The company has a market cap of $17.09 billion, a price-to-earnings ratio of 184.44, a P/E/G ratio of 1.37 and a beta of 1.43. SolarEdge Technologies, Inc. has a 52 week low of $190.15 and a 52 week high of $375.90. The business has a 50 day moving average price of $308.52 and a 200-day moving average price of $284.70. The company has a quick ratio of 2.44, a current ratio of 3.26 and a debt-to-equity ratio of 0.31.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last released its quarterly earnings data on Monday, February 13th. The semiconductor company reported $2.86 EPS for the quarter, beating the consensus estimate of $1.58 by $1.28. The firm had revenue of $890.70 million during the quarter, compared to the consensus estimate of $879.06 million. SolarEdge Technologies had a return on equity of 10.04% and a net margin of 3.02%. The company’s quarterly revenue was up 61.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, equities analysts expect that SolarEdge Technologies, Inc. will post 7.18 earnings per share for the current fiscal year.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.
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