Crossmark Global Holdings Inc. Raises Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Crossmark Global Holdings Inc. grew its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,982 shares of the semiconductor company’s stock after buying an additional 102 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in SolarEdge Technologies were worth $459,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Robeco Schweiz AG bought a new position in shares of SolarEdge Technologies in the 1st quarter worth $94,454,000. Clearbridge Investments LLC increased its position in SolarEdge Technologies by 120.4% during the 1st quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock valued at $153,570,000 after buying an additional 260,203 shares in the last quarter. Baird Financial Group Inc. increased its position in SolarEdge Technologies by 124.5% during the 2nd quarter. Baird Financial Group Inc. now owns 208,066 shares of the semiconductor company’s stock valued at $56,943,000 after buying an additional 115,372 shares in the last quarter. Pictet Asset Management SA increased its position in SolarEdge Technologies by 7.0% during the 2nd quarter. Pictet Asset Management SA now owns 1,743,403 shares of the semiconductor company’s stock valued at $477,135,000 after buying an additional 113,705 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in SolarEdge Technologies by 34.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 390,710 shares of the semiconductor company’s stock valued at $106,930,000 after buying an additional 100,024 shares in the last quarter. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, insider Meir Adest sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $315.96, for a total value of $1,579,800.00. Following the transaction, the insider now owns 140,485 shares in the company, valued at approximately $44,387,640.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 12,500 shares of company stock worth $3,682,425. Corporate insiders own 1.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SEDG. Truist Financial reduced their target price on SolarEdge Technologies from $385.00 to $320.00 and set a “buy” rating on the stock in a research report on Tuesday, October 18th. Morgan Stanley upped their target price on SolarEdge Technologies from $344.00 to $374.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 10th. JPMorgan Chase & Co. reduced their target price on SolarEdge Technologies from $419.00 to $379.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Barclays raised SolarEdge Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $389.00 to $396.00 in a research report on Wednesday, December 14th. Finally, Northland Securities raised SolarEdge Technologies from an “underperform” rating to a “market perform” rating in a report on Tuesday, November 8th. One equities 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $347.40.

SolarEdge Technologies Trading Up 2.8 %

Shares of NASDAQ:SEDG opened at $294.73 on Monday. SolarEdge Technologies, Inc. has a 1 year low of $190.15 and a 1 year high of $375.90. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 145.19, a price-to-earnings-growth ratio of 1.23 and a beta of 1.28. 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 business’s 50 day moving average price is $302.40 and its 200-day moving average price is $282.17.

SolarEdge Technologies (NASDAQ:SEDG – Get 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 firm had revenue of $836.72 million during the quarter, compared to analysts’ expectations of $825.69 million. SolarEdge Technologies had a net margin of 4.11% and a return on equity of 5.75%. On average, equities research analysts forecast that SolarEdge Technologies, Inc. will post 2.96 earnings per share for the current fiscal year.

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.