Ossiam Purchases 1,840 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Ossiam lifted its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 22.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,962 shares of the semiconductor company’s stock after acquiring an additional 1,840 shares during the period. Ossiam’s holdings in SolarEdge Technologies were worth $3,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd grew its holdings in shares of SolarEdge Technologies by 121.0% in the first quarter. XTX Topco Ltd now owns 2,413 shares of the semiconductor company’s stock valued at $733,000 after purchasing an additional 1,321 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in SolarEdge Technologies by 1,597.0% during the 1st quarter. 1832 Asset Management L.P. now owns 259,859 shares of the semiconductor company’s stock valued at $78,984,000 after acquiring an additional 244,546 shares during the period. Wetherby Asset Management Inc. grew its holdings in shares of SolarEdge Technologies by 2.0% in the first quarter. Wetherby Asset Management Inc. now owns 3,061 shares of the semiconductor company’s stock worth $930,000 after purchasing an additional 60 shares during the last quarter. State of Tennessee Treasury Department grew its stake in SolarEdge Technologies by 3.4% in the 1st quarter. State of Tennessee Treasury Department now owns 8,676 shares of the semiconductor company’s stock worth $2,637,000 after acquiring an additional 285 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in shares of SolarEdge Technologies by 4.1% during the first quarter. Gabelli Funds LLC now owns 12,830 shares of the semiconductor company’s stock valued at $3,900,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 86.11% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of SolarEdge Technologies from $334.00 to $240.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 6th. Oppenheimer dropped their price target on shares of SolarEdge Technologies from $400.00 to $314.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. Bank of America downgraded shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $320.00 to $181.00 in a research report on Wednesday, August 16th. Wells Fargo & Company dropped their price target on shares of SolarEdge Technologies from $374.00 to $253.00 in a research note on Friday, August 4th. Finally, StockNews.com assumed coverage on SolarEdge Technologies in a research note on Thursday, August 17th. They set a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $330.19.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $148.85 on Monday. The firm has a 50-day simple moving average of $209.15 and a two-hundred day simple moving average of $262.51. 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 1-year low of $146.10 and a 1-year high of $345.80. The stock has a market cap of $8.42 billion, a PE ratio of 28.79, a P/E/G ratio of 0.85 and a beta of 1.41.

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

SolarEdge Technologies Company Profile

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.