Allspring Global Investments Holdings LLC Buys 1,440 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Allspring Global Investments Holdings LLC raised its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 46.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,537 shares of the semiconductor company’s stock after buying an additional 1,440 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SolarEdge Technologies were worth $1,221,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SEDG. Baillie Gifford & Co. grew its position in shares of SolarEdge Technologies by 2,364.6% in the first quarter. Baillie Gifford & Co. now owns 931,431 shares of the semiconductor company’s stock valued at $283,108,000 after purchasing an additional 893,639 shares during the last quarter. Norges Bank acquired a new stake in shares of SolarEdge Technologies in the fourth quarter valued at about $115,423,000. Price T Rowe Associates Inc. MD grew its position in shares of SolarEdge Technologies by 432.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 395,823 shares of the semiconductor company’s stock valued at $120,311,000 after purchasing an additional 321,509 shares during the last quarter. Robeco Schweiz AG acquired a new stake in shares of SolarEdge Technologies in the first quarter valued at about $94,454,000. Finally, Clearbridge Investments LLC grew its position in shares of SolarEdge Technologies by 120.4% in the first quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock valued at $153,570,000 after purchasing an additional 260,203 shares during the last quarter. 86.11% of the stock is currently owned by institutional investors.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $73.17 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.50 and a current ratio of 3.85. The firm has a market cap of $4.14 billion, a P/E ratio of 19.99, a P/E/G ratio of 0.65 and a beta of 1.58. The business’s fifty day moving average is $121.04 and its two-hundred day moving average is $206.99. SolarEdge Technologies, Inc. has a 52 week low of $63.25 and a 52 week high of $345.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Oppenheimer downgraded SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, October 20th. Morgan Stanley decreased their target price on SolarEdge Technologies from $240.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. JPMorgan Chase & Co. decreased their target price on SolarEdge Technologies from $215.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Northland Securities raised SolarEdge Technologies from a “market perform” rating to an “outperform” rating and set a $147.00 target price on the stock in a research report on Friday, October 13th. Finally, Johnson Rice downgraded SolarEdge Technologies from an “accumulate” rating to a “hold” rating and decreased their target price for the stock from $300.00 to $140.00 in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $180.96.

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.