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US Bancorp DE lifted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 12.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,848 shares of the semiconductor company’s stock after purchasing an additional 1,234 shares during the period. US Bancorp DE’s holdings in SolarEdge Technologies were worth $2,511,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in SolarEdge Technologies by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,083,190 shares of the semiconductor company’s stock valued at $671,558,000 after buying an additional 37,181 shares in the last quarter. Pictet Asset Management SA grew its holdings in SolarEdge Technologies by 7.0% in the 2nd quarter. Pictet Asset Management SA now owns 1,743,403 shares of the semiconductor company’s stock valued at $477,135,000 after buying an additional 113,705 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in SolarEdge Technologies by 2.6% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 781,471 shares of the semiconductor company’s stock valued at $213,873,000 after buying an additional 19,999 shares in the last quarter. Clearbridge Investments LLC grew its holdings in SolarEdge Technologies by 31.3% in the 2nd quarter. Clearbridge Investments LLC now owns 625,494 shares of the semiconductor company’s stock valued at $171,185,000 after buying an additional 149,116 shares in the last quarter. Finally, Amundi grew its holdings in SolarEdge Technologies by 15.7% in the 2nd quarter. Amundi now owns 507,750 shares of the semiconductor company’s stock valued at $136,958,000 after buying an additional 68,858 shares in the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.
SolarEdge Technologies Price Performance
SolarEdge Technologies stock opened at $315.02 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.72 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $17.61 billion, a PE ratio of 155.18, a P/E/G ratio of 1.33 and a beta of 1.28. SolarEdge Technologies, Inc. has a 12 month low of $190.15 and a 12 month high of $375.90. The stock has a 50-day moving average price of $297.37 and a two-hundred day moving average price of $280.86.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last posted its earnings results on Monday, November 7th. The semiconductor company reported $0.31 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.86). The firm had revenue of $836.72 million during the quarter, compared to the consensus estimate of $825.69 million. SolarEdge Technologies had a net margin of 4.11% and a return on equity of 5.75%. Analysts expect that SolarEdge Technologies, Inc. will post 2.96 EPS for the current year.
Insider Activity
In related news, VP Meir Adest sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $290.46, for a total transaction of $726,150.00. Following the completion of the sale, the vice president now owns 157,248 shares of the company’s stock, valued at $45,674,254.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 7,500 shares of company stock valued at $2,102,625. Company insiders own 1.17% of the company’s stock.
Analysts Set New Price Targets
SEDG has been the topic of a number of research reports. BMO Capital Markets upped their price objective on SolarEdge Technologies from $316.00 to $355.00 in a report on Friday, November 18th. Oppenheimer reduced their target price on SolarEdge Technologies from $400.00 to $379.00 in a report on Tuesday, November 8th. Daiwa Capital Markets started coverage on SolarEdge Technologies in a report on Friday, December 23rd. They set a “neutral” rating and a $325.00 target price on the stock. Needham & Company LLC reduced their target price on SolarEdge Technologies from $380.00 to $370.00 and set a “buy” rating on the stock in a report on Tuesday, November 8th. Finally, StockNews.com raised SolarEdge Technologies to a “sell” rating in a report on Friday, November 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $344.00.
SolarEdge Technologies Profile
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SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.
See Also
- Get a free copy of the StockNews.com research report on SolarEdge Technologies (SEDG)
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Want to see what other hedge funds are holding SEDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating).
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