SolarEdge Technologies, Inc. (NASDAQ:SEDG) Position Increased by Arizona State Retirement System

Arizona State Retirement System lifted its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,811 shares of the semiconductor company’s stock after purchasing an additional 440 shares during the quarter. Arizona State Retirement System’s holdings in SolarEdge Technologies were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in SEDG. Baillie Gifford & Co. lifted its position in shares of SolarEdge Technologies by 89.3% in the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after purchasing an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after purchasing an additional 778,034 shares in the last quarter. Norges Bank purchased a new stake in shares of SolarEdge Technologies in the fourth quarter worth approximately $115,423,000. Price T Rowe Associates Inc. MD lifted 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 worth $120,311,000 after purchasing an additional 321,509 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of SolarEdge Technologies by 46.3% in the third quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock worth $121,067,000 after purchasing an additional 297,089 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Mizuho dropped their price objective on SolarEdge Technologies from $119.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Royal Bank of Canada dropped their price objective on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. Susquehanna dropped their price objective on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a report on Friday, April 5th. Finally, StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a report on Thursday, December 28th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $99.84.

Insider Buying and Selling

In other news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of $67.75 per share, with a total value of $474,250.00. Following the completion of the transaction, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.17% of the stock is owned by company insiders.

SolarEdge Technologies Stock Down 7.0 %

Shares of SEDG stock opened at $65.35 on Friday. The stock has a market cap of $3.73 billion, a P/E ratio of 145.22 and a beta of 1.51. SolarEdge Technologies, Inc. has a one year low of $60.44 and a one year high of $322.19. The stock has a fifty day moving average price of $70.79 and a 200 day moving average price of $81.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08.

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

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.