LPL Financial LLC Boosts Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

LPL Financial LLC raised its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 16.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,730 shares of the semiconductor company’s stock after acquiring an additional 2,370 shares during the period. LPL Financial LLC’s holdings in SolarEdge Technologies were worth $5,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SEDG. Harbour Investments Inc. raised its stake in shares of SolarEdge Technologies by 102.0% during the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after buying an additional 50 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of SolarEdge Technologies during the 1st quarter worth approximately $41,000. Steward Partners Investment Advisory LLC raised its stake in shares of SolarEdge Technologies by 49.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company’s stock worth $41,000 after buying an additional 48 shares in the last quarter. CI Investments Inc. raised its stake in shares of SolarEdge Technologies by 104.1% during the 4th quarter. CI Investments Inc. now owns 149 shares of the semiconductor company’s stock worth $42,000 after buying an additional 76 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of SolarEdge Technologies by 163.2% during the 4th quarter. Quadrant Capital Group LLC now owns 179 shares of the semiconductor company’s stock worth $51,000 after buying an additional 111 shares in the last quarter. 86.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, CFO Ronen Faier bought 875 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $180.10 per share, with a total value of $157,587.50. Following the completion of the transaction, the chief financial officer now owns 73,414 shares in the company, valued at $13,221,861.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.17% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SEDG. Wells Fargo & Company cut their target price on SolarEdge Technologies from $374.00 to $253.00 in a research note on Friday, August 4th. Susquehanna dropped their price objective on SolarEdge Technologies from $365.00 to $305.00 and set a “positive” rating for the company in a research note on Wednesday, August 2nd. Oppenheimer dropped their price objective on SolarEdge Technologies from $400.00 to $314.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. The Goldman Sachs Group dropped their price objective on SolarEdge Technologies from $414.00 to $353.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. Finally, TheStreet downgraded SolarEdge Technologies from a “b-” rating to a “c” rating in a research note on Tuesday, August 1st. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $336.38.

SolarEdge Technologies Trading Down 0.4 %

NASDAQ:SEDG opened at $161.95 on Friday. The business’s 50-day moving average is $220.85 and its two-hundred day moving average is $269.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.84 and a quick ratio of 2.75. SolarEdge Technologies, Inc. has a 12 month low of $156.47 and a 12 month high of $345.80. The firm has a market capitalization of $9.16 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 0.90 and a beta of 1.34.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $2.06 EPS for the quarter, beating the consensus estimate of $2.05 by $0.01. SolarEdge Technologies had a return on equity of 18.19% and a net margin of 8.29%. The company had revenue of $991.29 million for the quarter, compared to analyst estimates of $989.17 million. Research analysts predict that SolarEdge Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

About SolarEdge Technologies

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 in Solar and All Other segments. 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.