Baird Financial Group Inc. Buys 6,774 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Baird Financial Group Inc. raised its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,840 shares of the semiconductor company’s stock after purchasing an additional 6,774 shares during the period. Baird Financial Group Inc. owned approximately 0.38% of SolarEdge Technologies worth $49,728,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Neuberger Berman Group LLC boosted its holdings in SolarEdge Technologies by 8.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 94,044 shares of the semiconductor company’s stock valued at $21,888,000 after purchasing an additional 7,397 shares during the period. Pier Capital LLC raised its stake in shares of SolarEdge Technologies by 2.5% in the 3rd quarter. Pier Capital LLC now owns 2,875 shares of the semiconductor company’s stock valued at $665,000 after buying an additional 71 shares in the last quarter. Algert Global LLC acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at $332,000. Tortoise Capital Advisors L.L.C. raised its stake in shares of SolarEdge Technologies by 63.4% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 3,817 shares of the semiconductor company’s stock valued at $883,000 after buying an additional 1,481 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at $25,014,000. 80.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Daiwa Capital Markets assumed coverage on shares of SolarEdge Technologies in a research note on Friday, December 23rd. They issued a “neutral” rating and a $325.00 price objective for the company. Barclays dropped their price objective on shares of SolarEdge Technologies from $396.00 to $392.00 and set an “overweight” rating for the company in a research note on Wednesday, February 1st. KeyCorp assumed coverage on shares of SolarEdge Technologies in a research note on Monday, March 6th. They issued a “sector weight” rating for the company. Piper Sandler increased their price objective on shares of SolarEdge Technologies from $325.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of SolarEdge Technologies from $260.00 to $345.00 and gave the stock a “hold” rating in a research report on Tuesday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies has a consensus rating of “Moderate Buy” and an average target price of $367.65.

SolarEdge Technologies Trading Down 0.6 %

SEDG opened at $314.27 on Wednesday. The company has a current ratio of 3.26, a quick ratio of 2.44 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $17.65 billion, a PE ratio of 190.47, a PEG ratio of 1.37 and a beta of 1.43. SolarEdge Technologies, Inc. has a 1-year low of $190.15 and a 1-year high of $375.90. The firm has a 50-day moving average price of $309.18 and a two-hundred day moving average price of $284.73.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last posted its quarterly earnings data on Monday, February 13th. The semiconductor company reported $2.86 earnings per share 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 analysts’ expectations of $879.06 million. SolarEdge Technologies had a net margin of 3.02% and a return on equity of 10.04%. The company’s quarterly revenue was up 61.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. will post 7.18 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Meir Adest sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $315.96, for a total value of $1,579,800.00. Following the transaction, the insider now owns 140,485 shares of the company’s stock, valued at approximately $44,387,640.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.17% of the company’s stock.

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.