Capital Investment Advisory Services LLC purchased a new position in shares of Solaredge Technologies Inc (NASDAQ:SEDG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 450 shares of the semiconductor company’s stock, valued at approximately $38,000.
Several other hedge funds have also recently added to or reduced their stakes in SEDG. Pathstone Family Office LLC purchased a new stake in Solaredge Technologies in the 2nd quarter valued at about $31,000. C M Bidwell & Associates Ltd. purchased a new stake in Solaredge Technologies in the 2nd quarter valued at about $32,000. Westside Investment Management Inc. purchased a new stake in Solaredge Technologies in the 2nd quarter valued at about $35,000. Winslow Evans & Crocker Inc. boosted its position in Solaredge Technologies by 376.7% in the 3rd quarter. Winslow Evans & Crocker Inc. now owns 410 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 324 shares during the period. Finally, Gradient Investments LLC purchased a new stake in Solaredge Technologies in the 3rd quarter valued at about $42,000. 80.51% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:SEDG opened at $85.17 on Friday. Solaredge Technologies Inc has a one year low of $32.42 and a one year high of $91.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.98 and a current ratio of 2.49. The firm has a market cap of $4.01 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.27 and a beta of 0.06. The firm has a 50-day simple moving average of $83.26 and a 200-day simple moving average of $64.65.
Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. The business had revenue of $325.00 million during the quarter, compared to analyst estimates of $315.53 million. During the same quarter in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was up 43.1% compared to the same quarter last year. On average, research analysts predict that Solaredge Technologies Inc will post 2.99 EPS for the current fiscal year.
SEDG has been the subject of several research reports. Canaccord Genuity boosted their price objective on shares of Solaredge Technologies from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Roth Capital boosted their price objective on shares of Solaredge Technologies from $70.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research cut shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Oppenheimer boosted their price target on shares of Solaredge Technologies from $66.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, JMP Securities boosted their price target on shares of Solaredge Technologies to $90.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Solaredge Technologies presently has an average rating of “Buy” and a consensus target price of $78.07.
In related news, Director Doron Inbar sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $86.80, for a total transaction of $1,736,000.00. Following the completion of the transaction, the director now owns 45,712 shares in the company, valued at approximately $3,967,801.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Zvi Lando sold 28,604 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $81.93, for a total transaction of $2,343,525.72. Following the transaction, the chief executive officer now owns 84,375 shares of the company’s stock, valued at approximately $6,912,843.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 270,203 shares of company stock valued at $22,538,997. Company insiders own 7.90% of the company’s stock.
Solaredge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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