Teachers Retirement System of The State of Kentucky Sells 2,063 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Teachers Retirement System of The State of Kentucky cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 31.3% during the first quarter, HoldingsChannel reports. The firm owned 4,537 shares of the semiconductor company’s stock after selling 2,063 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in SolarEdge Technologies were worth $1,463,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Elequin Capital LP bought a new position in shares of SolarEdge Technologies in the first quarter worth about $32,000. Chilton Capital Management LLC purchased a new stake in SolarEdge Technologies in the fourth quarter worth about $28,000. First Horizon Advisors Inc. lifted its stake in SolarEdge Technologies by 274.1% in the first quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 74 shares during the period. Addison Advisors LLC purchased a new stake in SolarEdge Technologies in the first quarter worth about $37,000. Finally, Global Wealth Management Investment Advisory Inc. lifted its stake in SolarEdge Technologies by 1,140.0% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 124 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 114 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Insider Transactions at SolarEdge Technologies

In other news, VP Meir Adest sold 1,352 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $300.68, for a total transaction of $406,519.36. Following the sale, the vice president now owns 182,309 shares of the company’s stock, valued at approximately $54,816,670.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Rachel Prishkolnik sold 3,219 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $306.46, for a total transaction of $986,494.74. Following the transaction, the vice president now owns 10,684 shares in the company, valued at approximately $3,274,218.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Meir Adest sold 1,352 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $300.68, for a total value of $406,519.36. Following the transaction, the vice president now owns 182,309 shares in the company, valued at approximately $54,816,670.12. The disclosure for this sale can be found here. Insiders have sold 23,771 shares of company stock valued at $7,312,417 in the last 90 days. 1.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on SEDG shares. JPMorgan Chase & Co. upped their price objective on shares of SolarEdge Technologies from $373.00 to $419.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Needham & Company LLC decreased their price target on shares of SolarEdge Technologies from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Saturday, July 2nd. Morgan Stanley increased their price target 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. Finally, Barclays began coverage on shares of SolarEdge Technologies in a research report on Friday, August 5th. They set an “equal weight” rating and a $389.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $359.68.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $287.96 on Thursday. The stock has a market capitalization of $15.95 billion, a price-to-earnings ratio of 112.48, a PEG ratio of 2.62 and a beta of 1.24. SolarEdge Technologies, Inc. has a 12 month low of $200.86 and a 12 month high of $389.71. The firm’s 50 day simple moving average is $302.75 and its 200-day simple moving average is $290.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.96.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The semiconductor company reported $0.33 EPS 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 analyst estimates of $725.75 million. SolarEdge Technologies had a return on equity of 8.56% and a net margin of 5.78%. Analysts expect that SolarEdge Technologies, Inc. will post 4.05 EPS for the current 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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