Resona Asset Management Co. Ltd. Makes New Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Resona Asset Management Co. Ltd. purchased a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 9,635 shares of the semiconductor company’s stock, valued at approximately $133,000.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in SolarEdge Technologies during the fourth quarter valued at $227,000. Headlands Technologies LLC purchased a new stake in shares of SolarEdge Technologies during the 4th quarter worth about $257,000. Assenagon Asset Management S.A. lifted its holdings in shares of 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 valued at $11,888,000 after buying an additional 564,490 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of SolarEdge Technologies by 38.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company’s stock valued at $7,085,000 after buying an additional 144,733 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in SolarEdge Technologies in the fourth quarter worth approximately $260,000. 95.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.67% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on SEDG. Wells Fargo & Company decreased their target price on shares of SolarEdge Technologies from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. The Goldman Sachs Group increased their target price on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. Canaccord Genuity Group increased their price objective on SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Finally, Northland Securities lowered SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 target price for the company. in a report on Thursday, February 20th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.80.

SolarEdge Technologies Stock Up 10.2 %

Shares of SEDG stock opened at $12.76 on Friday. The stock has a market cap of $750.07 million, a P/E ratio of -0.41 and a beta of 1.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The stock has a fifty day moving average price of $15.80 and a 200 day moving average price of $15.48. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $71.50.

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.