Allspring Global Investments Holdings LLC Purchases 1,749 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Allspring Global Investments Holdings LLC boosted its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 52.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,086 shares of the semiconductor company’s stock after purchasing an additional 1,749 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SolarEdge Technologies were worth $1,176,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SEDG. Albion Financial Group UT grew its stake in SolarEdge Technologies by 0.6% in the 2nd quarter. Albion Financial Group UT now owns 6,288 shares of the semiconductor company’s stock worth $1,721,000 after acquiring an additional 39 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of SolarEdge Technologies by 2.0% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,118 shares of the semiconductor company’s stock worth $580,000 after purchasing an additional 41 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of SolarEdge Technologies by 79.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 95 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 42 shares during the period. Cetera Investment Advisers lifted its position in shares of SolarEdge Technologies by 2.8% in the 2nd quarter. Cetera Investment Advisers now owns 1,538 shares of the semiconductor company’s stock worth $421,000 after purchasing an additional 42 shares during the period. Finally, Nvwm LLC lifted its position in shares of SolarEdge Technologies by 2.4% in the 2nd quarter. Nvwm LLC now owns 1,897 shares of the semiconductor company’s stock worth $519,000 after purchasing an additional 45 shares during the period. 80.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Meir Adest sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $250.30, for a total transaction of $625,750.00. Following the completion of the sale, the vice president now owns 159,748 shares in the company, valued at approximately $39,984,924.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 12,500 shares of company stock worth $3,682,425 over the last 90 days. 1.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SEDG shares. BMO Capital Markets upped their price target on shares of SolarEdge Technologies from $316.00 to $355.00 in a research report on Friday, November 18th. Needham & Company LLC decreased their target price on shares of SolarEdge Technologies from $380.00 to $370.00 and set a “buy” rating for the company in a research report on Tuesday, November 8th. Daiwa Capital Markets initiated coverage on shares of SolarEdge Technologies in a research note on Friday, December 23rd. They set a “neutral” rating and a $325.00 price target on the stock. Barclays upgraded shares of SolarEdge Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $389.00 to $396.00 in a research note on Wednesday, December 14th. Finally, Northland Securities upgraded shares of SolarEdge Technologies from an “underperform” rating to a “market perform” rating in a research note on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.40.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $294.73 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.53 and a quick ratio of 2.72. The stock has a market cap of $16.47 billion, a PE ratio of 145.19, a P/E/G ratio of 1.31 and a beta of 1.28. The firm has a 50-day simple moving average of $302.40 and a two-hundred day simple moving average of $282.09. SolarEdge Technologies, Inc. has a 1-year low of $190.15 and a 1-year high of $375.90.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last announced its quarterly earnings data on Monday, November 7th. The semiconductor company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.86). The business had revenue of $836.72 million during the quarter, compared to analyst estimates of $825.69 million. SolarEdge Technologies had a net margin of 4.11% and a return on equity of 5.75%. As a group, analysts forecast that SolarEdge Technologies, Inc. will post 2.96 EPS for the current year.

SolarEdge Technologies Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding SEDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating).

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

Receive News & Ratings for SolarEdge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SolarEdge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.