Marshall Wace LLP Buys Shares of 26,478 SolarEdge Technologies, Inc. (NASDAQ:SEDG)

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.

Insider Activity

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

SEDG has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on SolarEdge Technologies from $367.00 to $374.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 15th. StockNews.com lowered SolarEdge Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on SolarEdge Technologies from $260.00 to $345.00 and gave the stock a “hold” rating in a research note on Tuesday, January 17th. BMO Capital Markets cut their price objective on SolarEdge Technologies from $387.00 to $385.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 14th. Finally, Scotiabank initiated coverage on SolarEdge Technologies in a research note on Thursday, March 2nd. They issued a “sector perform” rating and a $345.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $367.65.

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

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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.