Yousif Capital Management LLC Raises Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Yousif Capital Management LLC raised its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 149.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,548 shares of the semiconductor company’s stock after acquiring an additional 16,489 shares during the quarter. Yousif Capital Management LLC’s holdings in SolarEdge Technologies were worth $2,578,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC boosted its stake in 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 grew its stake in SolarEdge Technologies by 4.2% during the 4th quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock worth $345,000 after buying an additional 148 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in 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 buying an additional 183 shares during 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 during the period. Finally, Metis Global Partners LLC increased its holdings in shares of SolarEdge Technologies by 3.9% in the 3rd 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 during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. 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. Janney Montgomery Scott lowered SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Canaccord Genuity Group assumed coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They set a “hold” rating and a $80.00 price target for the company. Mizuho cut their price objective on shares of SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $75.00 target price on shares of SolarEdge Technologies in a report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $98.38.

Insider Activity

In other news, Director More Avery acquired 7,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.17% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $60.01 on Tuesday. The business’s fifty day moving average price is $66.29 and its 200 day moving average price is $76.46. The stock has a market capitalization of $3.43 billion, a P/E ratio of 133.36 and a beta of 1.51. 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 twelve month low of $53.59 and a twelve month high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG) last announced 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. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. As a group, research analysts anticipate that SolarEdge Technologies, Inc. will post -4.62 earnings per share for the current year.

SolarEdge Technologies 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.