Convergence Investment Partners LLC Acquires Shares of 81,961 SolarEdge Technologies, Inc. $SEDG

Convergence Investment Partners LLC bought a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the 3rd quarter, Holdings Channel reports. The fund bought 81,961 shares of the semiconductor company’s stock, valued at approximately $3,033,000.

A number of other hedge funds also recently added to or reduced their stakes in SEDG. Whittier Trust Co. acquired a new position in SolarEdge Technologies during the 3rd quarter worth approximately $27,000. Canada Pension Plan Investment Board purchased a new stake in shares of SolarEdge Technologies in the 2nd quarter worth about $35,000. Tower Research Capital LLC TRC lifted its stake in SolarEdge Technologies by 28.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the semiconductor company’s stock valued at $51,000 after buying an additional 553 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in SolarEdge Technologies by 21.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 508 shares during the last quarter. Finally, Spire Wealth Management boosted its position in SolarEdge Technologies by 706.3% during the second quarter. Spire Wealth Management now owns 3,185 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 2,790 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG opened at $30.95 on Monday. The company has a market cap of $1.85 billion, a P/E ratio of -3.20 and a beta of 1.66. The business’s 50-day simple moving average is $32.02 and its 200 day simple moving average is $32.99. SolarEdge Technologies, Inc. has a one year low of $11.00 and a one year high of $48.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.60 and a current ratio of 2.28.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup decreased their price objective on SolarEdge Technologies from $30.00 to $29.00 and set a “sell” rating on the stock in a report on Thursday, December 18th. Morgan Stanley upgraded SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $27.00 to $33.00 in a report on Tuesday, December 16th. BMO Capital Markets upped their price objective on shares of SolarEdge Technologies from $19.00 to $25.00 and gave the company an “underperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company decreased their target price on shares of SolarEdge Technologies from $42.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Friday, December 19th. Finally, TD Cowen upgraded shares of SolarEdge Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $34.00 to $38.00 in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating, sixteen have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $25.45.

SolarEdge Technologies Profile

SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.