Private Advisor Group LLC Boosts Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Private Advisor Group LLC lifted its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 90.7% in the 1st quarter, Holdings Channel reports. The firm owned 2,635 shares of the semiconductor company’s stock after acquiring an additional 1,253 shares during the period. Private Advisor Group LLC’s holdings in SolarEdge Technologies were worth $849,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC purchased a new position in shares of SolarEdge Technologies in the fourth quarter worth $28,000. First Horizon Advisors Inc. increased its position in SolarEdge Technologies by 274.1% during the first quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Addison Advisors LLC purchased a new stake in SolarEdge Technologies during the first quarter valued at $37,000. Confluence Wealth Services Inc. purchased a new stake in SolarEdge Technologies during the fourth quarter valued at $33,000. Finally, Global Wealth Management Investment Advisory Inc. increased its position in SolarEdge Technologies by 1,140.0% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 124 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SolarEdge Technologies stock opened at $311.37 on Thursday. The company has a quick ratio of 2.96, a current ratio of 3.73 and a debt-to-equity ratio of 0.33. SolarEdge Technologies, Inc. has a twelve month low of $200.86 and a twelve month high of $389.71. The business has a 50-day moving average price of $296.15 and a 200 day moving average price of $288.85. The firm has a market cap of $17.25 billion, a PE ratio of 121.63, a P/E/G ratio of 2.18 and a beta of 1.24.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.53). SolarEdge Technologies had a net margin of 5.78% and a return on equity of 8.56%. The business had revenue of $727.77 million during the quarter, compared to analysts’ expectations of $725.75 million. Sell-side analysts predict that SolarEdge Technologies, Inc. will post 4.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on SolarEdge Technologies from $373.00 to $419.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Guggenheim boosted their price target on SolarEdge Technologies from $348.00 to $389.00 in a report on Wednesday, August 3rd. Needham & Company LLC dropped their price target on SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Barclays started coverage on SolarEdge Technologies in a report on Friday, August 5th. They issued an “equal weight” rating and a $389.00 price target on the stock. Finally, StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a report on Saturday, July 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, SolarEdge Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $359.68.

Insider Activity at SolarEdge Technologies

In other news, VP Rachel Prishkolnik sold 1,900 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $301.58, for a total transaction of $573,002.00. Following the sale, the vice president now owns 12,581 shares of the company’s stock, valued at $3,794,177.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Rachel Prishkolnik sold 1,900 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $301.58, for a total transaction of $573,002.00. Following the sale, the vice president now owns 12,581 shares of the company’s stock, valued at $3,794,177.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Meir Adest sold 7,722 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $312.83, for a total value of $2,415,673.26. Following the sale, the vice president now directly owns 168,335 shares in the company, valued at approximately $52,660,238.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,274 shares of company stock worth $5,406,879. Insiders own 1.17% of the company’s stock.

SolarEdge Technologies Profile

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SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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