PGGM Investments Grows Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

PGGM Investments raised its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 36.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 401,520 shares of the semiconductor company’s stock after buying an additional 106,759 shares during the quarter. PGGM Investments owned about 0.71% of SolarEdge Technologies worth $37,582,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd increased its holdings in shares of SolarEdge Technologies by 143.8% during the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock valued at $2,701,000 after acquiring an additional 12,302 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of SolarEdge Technologies by 20,293.3% during the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock valued at $9,716,000 after acquiring an additional 103,293 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of SolarEdge Technologies by 5.4% during the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock valued at $2,782,000 after acquiring an additional 1,101 shares in the last quarter. Meitav Investment House Ltd. increased its holdings in shares of SolarEdge Technologies by 27.2% during the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock valued at $61,231,000 after acquiring an additional 99,681 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its holdings in shares of SolarEdge Technologies by 250.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG traded up $1.59 during midday trading on Friday, reaching $58.20. 1,268,655 shares of the company’s stock traded hands, compared to its average volume of 1,785,492. SolarEdge Technologies, Inc. has a 1 year low of $53.59 and a 1 year high of $315.34. The company has a market cap of $3.32 billion, a P/E ratio of 129.33 and a beta of 1.51. 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 company has a fifty day simple moving average of $67.32 and a two-hundred day simple moving average of $77.98.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The firm had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. Equities analysts predict that SolarEdge Technologies, Inc. will post -4.62 EPS for the current fiscal year.

Analysts Set New Price Targets

SEDG has been the topic of several recent analyst reports. 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. Susquehanna cut their price objective on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a report on Friday, April 5th. B. Riley cut their price target on shares of SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Mizuho cut their price target on shares of SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Truist Financial cut their price target on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus price target of $98.38.

Insider Buying and Selling at SolarEdge Technologies

In other news, Director More Avery acquired 7,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were bought at an average price 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 approximately $5,246,966.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.17% of the stock is currently owned by insiders.

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.