Senvest Management LLC raised its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 124.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 759,071 shares of the semiconductor company’s stock after acquiring an additional 420,689 shares during the quarter. SolarEdge Technologies makes up approximately 7.3% of Senvest Management LLC’s portfolio, making the stock its 5th biggest position. Senvest Management LLC owned 1.36% of SolarEdge Technologies worth $215,022,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Robeco Schweiz AG purchased a new stake in SolarEdge Technologies in the first quarter valued at approximately $94,454,000. Clearbridge Investments LLC raised its position in SolarEdge Technologies by 120.4% in the first quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock worth $153,570,000 after acquiring an additional 260,203 shares in the last quarter. Tairen Capital Ltd raised its position in SolarEdge Technologies by 278.2% in the third quarter. Tairen Capital Ltd now owns 345,329 shares of the semiconductor company’s stock worth $79,930,000 after acquiring an additional 254,029 shares in the last quarter. Twinbeech Capital LP purchased a new position in SolarEdge Technologies in the third quarter worth $25,014,000. Finally, DSM Capital Partners LLC acquired a new stake in SolarEdge Technologies in the third quarter valued at $24,449,000. 80.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
SEDG has been the topic of several research reports. HSBC initiated coverage on SolarEdge Technologies in a report on Thursday, April 13th. They issued a “buy” rating and a $418.00 target price on the stock. Scotiabank began coverage on SolarEdge Technologies in a research note on Thursday, March 2nd. They set a “sector perform” rating and a $345.00 price objective on the stock. Truist Financial increased their price objective on SolarEdge Technologies from $370.00 to $380.00 in a research note on Friday, May 5th. Oppenheimer increased their price objective on SolarEdge Technologies from $379.00 to $383.00 and gave the company an “outperform” rating in a research note on Tuesday, February 14th. Finally, KeyCorp began coverage on SolarEdge Technologies in a research note on Monday, March 6th. They set a “sector weight” rating on the stock. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $374.26.
SolarEdge Technologies Stock Up 2.3 %
Shares of NASDAQ:SEDG traded up $6.77 during mid-day trading on Thursday, hitting $294.97. 715,555 shares of the company traded hands, compared to its average volume of 1,108,723. The firm has a market cap of $16.62 billion, a P/E ratio of 84.76, a PEG ratio of 1.01 and a beta of 1.42. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.63 and a current ratio of 3.60. SolarEdge Technologies, Inc. has a 52-week low of $190.15 and a 52-week high of $375.90. The firm’s 50 day simple moving average is $292.53 and its 200 day simple moving average is $300.30.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last issued its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.85. SolarEdge Technologies had a return on equity of 14.49% and a net margin of 5.86%. The firm had revenue of $943.89 million during the quarter, compared to analyst estimates of $929.37 million. On average, equities analysts anticipate that SolarEdge Technologies, Inc. will post 8.56 EPS for the current year.
Insider Buying and Selling at SolarEdge Technologies
In other news, insider Meir Adest sold 2,500 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $300.86, for a total value of $752,150.00. Following the completion of the transaction, the insider now owns 131,677 shares in the company, valued at approximately $39,616,342.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.17% of the stock is owned by insiders.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.