SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 58.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,100 shares of the semiconductor company’s stock after selling 12,788 shares during the period. Retirement Systems of Alabama’s holdings in SolarEdge Technologies were worth $852,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of SolarEdge Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after acquiring an additional 92,230 shares during the period. Baillie Gifford & Co. raised its position in shares of SolarEdge Technologies by 89.3% in the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after acquiring an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after acquiring an additional 778,034 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of SolarEdge Technologies by 10.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock worth $92,210,000 after acquiring an additional 89,279 shares during the period. Finally, Impax Asset Management Group plc raised its position in shares of SolarEdge Technologies by 1.6% in the fourth quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after acquiring an additional 14,878 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

Insider Activity

In other news, Director More Avery acquired 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.17% of the company’s stock.

Analyst Ratings Changes

SEDG has been the subject of several research analyst reports. Canaccord Genuity Group restated a “hold” rating and set a $75.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, February 21st. The Goldman Sachs Group reduced their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research report on Wednesday, January 24th. Mizuho reduced their price target on shares of SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Scotiabank reduced their price target on shares of SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 21st. Finally, Barclays upped their price target on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $97.62.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $57.55 on Thursday. The firm has a market cap of $3.30 billion, a PE ratio of 127.89 and a beta of 1.53. SolarEdge Technologies, Inc. has a 52-week low of $53.59 and a 52-week high of $315.34. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $64.59 and its two-hundred day moving average is $74.00.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The company had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. On average, research analysts expect that SolarEdge Technologies, Inc. will post -4.68 EPS for the current fiscal year.

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.