New York State Teachers Retirement System Purchases 11,555 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

New York State Teachers Retirement System increased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 20.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 66,836 shares of the semiconductor company’s stock after purchasing an additional 11,555 shares during the period. New York State Teachers Retirement System’s holdings in SolarEdge Technologies were worth $6,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of SolarEdge Technologies in the 1st quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of SolarEdge Technologies during the first quarter valued at $29,000. Harbour Investments Inc. increased its holdings in SolarEdge Technologies by 102.0% in 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. Hollencrest Capital Management purchased a new position in SolarEdge Technologies in the 1st quarter worth about $30,000. Finally, Clear Street Markets LLC lifted its stake in SolarEdge Technologies by 94.6% during the 1st quarter. Clear Street Markets LLC now owns 109 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 53 shares during the period. 95.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SEDG. BMO Capital Markets reduced their price target on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, February 21st. The Goldman Sachs Group decreased their target price on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research note on Wednesday, January 24th. StockNews.com raised SolarEdge Technologies to a “sell” rating in a report on Thursday, December 28th. Wells Fargo & Company lowered their target price on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Finally, Citigroup cut their price target on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $99.84.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $65.35 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 145.22 and a beta of 1.51. The stock has a 50 day moving average of $70.79 and a 200 day moving average of $82.21. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. SolarEdge Technologies, Inc. has a 12 month low of $60.44 and a 12 month high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The firm had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. On average, research analysts expect that SolarEdge Technologies, Inc. will post -4.04 EPS for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.17% of the stock is owned by insiders.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.