Mercer Global Advisors Inc. ADV Takes Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Mercer Global Advisors Inc. ADV acquired a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,692 shares of the semiconductor company’s stock, valued at approximately $145,000.

Several other institutional investors have also recently modified their holdings of SEDG. Ion Asset Management Ltd. bought a new position in SolarEdge Technologies during the 4th quarter worth approximately $12,005,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after acquiring an additional 641,915 shares during the last quarter. Assenagon Asset Management S.A. grew its position in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after acquiring an additional 564,490 shares during the last quarter. Legal & General Group Plc grew its position in SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after acquiring an additional 512,035 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in SolarEdge Technologies by 79.6% during the 4th quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company’s stock worth $8,537,000 after acquiring an additional 278,200 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group reduced their price target on SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 15th. Piper Sandler raised their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Guggenheim restated a “sell” rating and set a $5.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. UBS Group reduced their price target on SolarEdge Technologies from $22.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Finally, Barclays lifted their price objective on SolarEdge Technologies from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 16th. Twelve equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and an average target price of $16.44.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.67% of the stock is owned by company insiders.

SolarEdge Technologies Trading Up 5.7%

SEDG opened at $22.02 on Friday. The stock has a market cap of $1.30 billion, a PE ratio of -0.71 and a beta of 1.50. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average of $15.06 and a 200-day moving average of $14.77. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $53.58.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.12. The business had revenue of $219.48 million during the quarter, compared to analysts’ expectations of $205.39 million. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.90) earnings per share. Equities research analysts predict that SolarEdge Technologies, Inc. will post -4.54 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.