Legal & General Group Plc Has $29.07 Million Stock Position in SolarEdge Technologies, Inc. $SEDG

Legal & General Group Plc grew its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,424,788 shares of the semiconductor company’s stock after acquiring an additional 124,591 shares during the quarter. Legal & General Group Plc owned 2.40% of SolarEdge Technologies worth $29,066,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Edmond DE Rothschild Holding S.A. raised its stake in SolarEdge Technologies by 60.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of SolarEdge Technologies during the 1st quarter worth approximately $35,000. Public Employees Retirement System of Ohio increased its holdings in shares of SolarEdge Technologies by 21.5% during the second quarter. Public Employees Retirement System of Ohio now owns 2,868 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 508 shares during the period. Spire Wealth Management raised its position in shares of SolarEdge Technologies by 706.3% in the second quarter. Spire Wealth Management now owns 3,185 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 2,790 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of SolarEdge Technologies by 25.2% in the first quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company’s stock valued at $74,000 after buying an additional 918 shares in the last quarter. 95.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SEDG has been the topic of a number of analyst reports. Citigroup increased their price target on SolarEdge Technologies from $9.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, October 21st. Oppenheimer reissued a “market perform” rating on shares of SolarEdge Technologies in a report on Monday, August 11th. Barclays raised their price target on SolarEdge Technologies from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. Morgan Stanley upped their price objective on shares of SolarEdge Technologies from $25.00 to $27.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Finally, UBS Group increased their price objective on shares of SolarEdge Technologies from $30.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Eighteen equities research analysts have rated the stock with a Hold rating and ten have given a Sell rating to the company. According to MarketBeat, SolarEdge Technologies presently has an average rating of “Reduce” and a consensus price target of $24.62.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $35.47 on Thursday. The stock has a 50-day moving average price of $37.25 and a two-hundred day moving average price of $29.20. SolarEdge Technologies, Inc. has a 12 month low of $11.00 and a 12 month high of $48.60. The company has a market capitalization of $2.12 billion, a PE ratio of -1.18 and a beta of 1.63. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.72.

About SolarEdge Technologies

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.