SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stake Lifted by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 25.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,943 shares of the semiconductor company’s stock after acquiring an additional 2,029 shares during the period. Mutual of America Capital Management LLC’s holdings in SolarEdge Technologies were worth $931,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Legacy Wealth Asset Management LLC boosted its holdings in shares of SolarEdge Technologies by 9.4% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,684 shares of the semiconductor company’s stock valued at $218,000 after acquiring an additional 145 shares in the last quarter. Liberty One Investment Management LLC boosted its holdings in shares of SolarEdge Technologies by 4.2% in the fourth quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock valued at $345,000 after acquiring an additional 148 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of SolarEdge Technologies by 194.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 183 shares in the last quarter. South Street Advisors LLC boosted its holdings in shares of SolarEdge Technologies by 2.9% in the third quarter. South Street Advisors LLC now owns 6,512 shares of the semiconductor company’s stock valued at $843,000 after acquiring an additional 185 shares in the last quarter. Finally, Metis Global Partners LLC boosted its holdings in shares of SolarEdge Technologies by 3.9% in the third quarter. Metis Global Partners LLC now owns 5,062 shares of the semiconductor company’s stock valued at $656,000 after acquiring an additional 188 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

Insider Activity

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.17% of the stock is owned by insiders.

SolarEdge Technologies Stock Down 2.3 %

SEDG stock opened at $54.51 on Tuesday. SolarEdge Technologies, Inc. has a 12-month low of $53.59 and a 12-month high of $321.33. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 121.13 and a beta of 1.51. The company has a 50 day moving average of $68.82 and a two-hundred day moving average of $78.74.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. On average, equities analysts anticipate that SolarEdge Technologies, Inc. will post -4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SEDG. Scotiabank reduced their target price on shares of SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a report on Wednesday, February 21st. The Goldman Sachs Group reduced their target price on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a report on Wednesday, January 24th. DZ Bank began coverage on shares of SolarEdge Technologies in a report on Wednesday, April 17th. They set a “hold” rating and a $62.00 target price for the company. TD Cowen reduced their target price on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Finally, StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a report on Thursday, December 28th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.38.

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.