Mirae Asset Global Investments Co. Ltd. Lowers Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Mirae Asset Global Investments Co. Ltd. trimmed its position in SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,668 shares of the semiconductor company’s stock after selling 4,751 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of SolarEdge Technologies worth $11,820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SEDG. State of Michigan Retirement System grew its holdings in SolarEdge Technologies by 0.3% in the 1st quarter. State of Michigan Retirement System now owns 13,236 shares of the semiconductor company’s stock valued at $4,267,000 after buying an additional 36 shares during the period. United Capital Financial Advisers LLC grew its holdings in shares of SolarEdge Technologies by 2.0% during the 1st quarter. United Capital Financial Advisers LLC now owns 2,394 shares of the semiconductor company’s stock worth $772,000 after purchasing an additional 46 shares during the period. CIBC Asset Management Inc grew its position in SolarEdge Technologies by 1.8% in the first quarter. CIBC Asset Management Inc now owns 2,805 shares of the semiconductor company’s stock valued at $904,000 after acquiring an additional 49 shares in the last quarter. Mission Wealth Management LP grew its position in SolarEdge Technologies by 2.7% in the first quarter. Mission Wealth Management LP now owns 1,900 shares of the semiconductor company’s stock valued at $613,000 after acquiring an additional 50 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its position in SolarEdge Technologies by 1.2% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 4,375 shares of the semiconductor company’s stock valued at $1,228,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insiders Place Their Bets

In other SolarEdge Technologies news, insider Meir Adest sold 2,300 shares of the stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $301.58, for a total value of $693,634.00. Following the completion of the sale, the insider now directly owns 183,757 shares in the company, valued at $55,417,436.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Rachel Prishkolnik sold 3,219 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $306.46, for a total value of $986,494.74. Following the completion of the sale, the vice president now directly owns 10,684 shares of the company’s stock, valued at $3,274,218.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Meir Adest sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $301.58, for a total value of $693,634.00. Following the completion of the sale, the insider now directly owns 183,757 shares of the company’s stock, valued at $55,417,436.06. The disclosure for this sale can be found here. Insiders sold 18,771 shares of company stock worth $5,773,667 over the last ninety days. 1.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of SolarEdge Technologies from $316.00 to $352.00 and gave the company an “equal weight” rating in a research report on Thursday, August 18th. Guggenheim increased their target price on SolarEdge Technologies from $348.00 to $389.00 in a research note on Wednesday, August 3rd. Barclays started coverage on SolarEdge Technologies in a research note on Friday, August 5th. They set an “equal weight” rating and a $389.00 target price for the company. TheStreet upgraded SolarEdge Technologies from a “c” rating to a “b-” rating in a research note on Tuesday, August 2nd. Finally, Needham & Company LLC cut their target price on SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $359.68.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $307.95 on Tuesday. The firm has a market cap of $17.06 billion, a P/E ratio of 120.29, a P/E/G ratio of 2.64 and a beta of 1.24. SolarEdge Technologies, Inc. has a 52 week low of $200.86 and a 52 week high of $389.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.96 and a current ratio of 3.73. The business’s fifty day moving average is $301.79 and its two-hundred day moving average is $290.58.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last released its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.53). The firm had revenue of $727.77 million for the quarter, compared to the consensus estimate of $725.75 million. SolarEdge Technologies had a return on equity of 8.56% and a net margin of 5.78%. Equities research analysts forecast that SolarEdge Technologies, Inc. will post 4.05 earnings per share for the current fiscal year.

SolarEdge Technologies Company 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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