IHT Wealth Management LLC Grows Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

IHT Wealth Management LLC lifted its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 82.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,426 shares of the semiconductor company’s stock after purchasing an additional 1,548 shares during the quarter. IHT Wealth Management LLC’s holdings in SolarEdge Technologies were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SEDG. Panagora Asset Management Inc. grew its holdings in shares of SolarEdge Technologies by 28.3% during the 1st quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company’s stock worth $727,000 after purchasing an additional 497 shares during the period. Rhumbline Advisers boosted its holdings in SolarEdge Technologies by 2.7% during the 1st quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company’s stock valued at $14,315,000 after acquiring an additional 1,174 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in SolarEdge Technologies by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company’s stock valued at $2,265,000 after acquiring an additional 435 shares during the period. Cibc World Market Inc. boosted its holdings in SolarEdge Technologies by 28.5% during the 1st quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company’s stock valued at $1,562,000 after acquiring an additional 1,073 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in SolarEdge Technologies by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company’s stock valued at $68,007,000 after acquiring an additional 1,902 shares during the period. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SolarEdge Technologies news, insider Meir Adest sold 5,000 shares of SolarEdge Technologies stock in a transaction that occurred 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 transaction, the insider now owns 139,068 shares of the company’s stock, valued at $44,024,756.76. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank assumed coverage on SolarEdge Technologies in a report on Thursday, March 2nd. They set a “sector perform” rating and a $345.00 target price for the company. BMO Capital Markets lowered their target price on SolarEdge Technologies from $387.00 to $385.00 and set an “outperform” rating for the company in a report on Tuesday, February 14th. Wells Fargo & Company raised their target price on SolarEdge Technologies from $367.00 to $374.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. KeyCorp began coverage on SolarEdge Technologies in a research note on Monday, March 6th. They issued a “sector weight” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on SolarEdge Technologies from $260.00 to $345.00 and gave the company a “hold” rating in a research note on Tuesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $367.65.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $267.21 on Friday. The firm has a market capitalization of $15.00 billion, a PE ratio of 158.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43. SolarEdge Technologies, Inc. has a fifty-two week low of $190.15 and a fifty-two week high of $375.90. The stock’s 50-day simple moving average is $310.25 and its 200-day simple moving average is $285.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.44 and a current ratio of 3.26.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last released its quarterly earnings results on Monday, February 13th. The semiconductor company reported $2.86 EPS for the quarter, topping the consensus estimate of $1.58 by $1.28. The company had revenue of $890.70 million for the quarter, compared to analyst estimates of $879.06 million. SolarEdge Technologies had a return on equity of 10.04% and a net margin of 3.02%. The firm’s revenue was up 61.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, equities research analysts forecast that SolarEdge Technologies, Inc. will post 7.18 EPS for the current fiscal year.

SolarEdge Technologies 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.