Vanguard Group Inc. Purchases 92,230 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Vanguard Group Inc. lifted its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,529,274 shares of the semiconductor company’s stock after purchasing an additional 92,230 shares during the quarter. Vanguard Group Inc. owned about 4.45% of SolarEdge Technologies worth $327,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its position in SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after acquiring an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of SolarEdge Technologies by 108.5% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after purchasing an additional 778,034 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of SolarEdge Technologies by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 975,405 shares of the semiconductor company’s stock valued at $295,685,000 after purchasing an additional 12,999 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of SolarEdge Technologies by 46.3% during the 3rd quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock valued at $121,067,000 after purchasing an additional 297,089 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of SolarEdge Technologies by 15.3% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 895,622 shares of the semiconductor company’s stock valued at $116,022,000 after acquiring an additional 118,647 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. TD Cowen lowered their price target on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Canaccord Genuity Group reaffirmed a “hold” rating and set a $75.00 target price on shares of SolarEdge Technologies in a research report on Wednesday, February 21st. Piper Sandler reduced their target price on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Wells Fargo & Company cut their price objective on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Finally, Susquehanna cut their price objective on shares of SolarEdge Technologies from $107.00 to $97.00 and set a “positive” rating on the stock in a report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $109.69.

Insider Buying and Selling

In other news, Director More Avery bought 7,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the acquisition, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.17% of the stock is owned by company insiders.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $69.69 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The stock has a market capitalization of $3.98 billion, a P/E ratio of 154.87 and a beta of 1.50. The company has a 50 day moving average price of $70.92 and a 200 day moving average price of $87.80. SolarEdge Technologies, Inc. has a fifty-two week low of $60.44 and a fifty-two week high of $322.19.

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. Equities research analysts forecast that SolarEdge Technologies, Inc. will post -3.78 EPS for the current year.

SolarEdge Technologies Company 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.