SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,796 shares of the semiconductor company’s stock after selling 3,802 shares during the period. California Public Employees Retirement System’s holdings in SolarEdge Technologies were worth $7,282,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in shares of SolarEdge Technologies in the third quarter worth $25,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 183 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in SolarEdge Technologies by 4,000.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 410 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 400 shares during the last quarter. NewSquare Capital LLC increased its holdings in shares of SolarEdge Technologies by 4,066.7% in the third quarter. NewSquare Capital LLC now owns 500 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 488 shares during the period. Finally, Compagnie Lombard Odier SCmA raised its stake in shares of SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SEDG shares. Janney Montgomery Scott downgraded shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. B. Riley cut their price objective on shares of SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets decreased their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a research report on Wednesday, February 21st. Susquehanna cut their price target on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Finally, The Goldman Sachs Group reduced their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $98.38.

Insider Activity at SolarEdge Technologies

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

SolarEdge Technologies Stock Up 1.3 %

SEDG stock opened at $60.45 on Friday. The stock has a market capitalization of $3.46 billion, a P/E ratio of 134.33 and a beta of 1.53. SolarEdge Technologies, Inc. has a 52 week low of $53.59 and a 52 week high of $315.34. The firm has a 50-day simple moving average of $65.24 and a 200-day simple moving average of $75.79. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last announced 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. The business 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%. Equities analysts forecast that SolarEdge Technologies, Inc. will post -4.62 earnings per share for the current fiscal 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.