Baird Financial Group Inc. Purchases 6,774 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Baird Financial Group Inc. increased its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 3.3% during the 3rd quarter, Holdings Channel reports. The fund owned 214,840 shares of the semiconductor company’s stock after buying an additional 6,774 shares during the quarter. Baird Financial Group Inc.’s holdings in SolarEdge Technologies were worth $49,728,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Neuberger Berman Group LLC lifted its stake in SolarEdge Technologies by 8.5% in the third quarter. Neuberger Berman Group LLC now owns 94,044 shares of the semiconductor company’s stock valued at $21,888,000 after buying an additional 7,397 shares in the last quarter. Pier Capital LLC lifted its stake in SolarEdge Technologies by 2.5% in the third quarter. Pier Capital LLC now owns 2,875 shares of the semiconductor company’s stock valued at $665,000 after buying an additional 71 shares in the last quarter. Algert Global LLC bought a new position in SolarEdge Technologies in the third quarter valued at approximately $332,000. Tortoise Capital Advisors L.L.C. lifted its stake in SolarEdge Technologies by 63.4% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 3,817 shares of the semiconductor company’s stock valued at $883,000 after buying an additional 1,481 shares in the last quarter. Finally, Twinbeech Capital LP bought a new position in SolarEdge Technologies in the third quarter valued at approximately $25,014,000. Institutional investors own 80.01% of the company’s stock.

Analyst Ratings Changes

SEDG has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of SolarEdge Technologies from $344.00 to $374.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 10th. Scotiabank started coverage on shares of SolarEdge Technologies in a report on Thursday, March 2nd. They issued a “sector perform” rating and a $345.00 price objective on the stock. Bank of America upgraded shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $269.00 to $367.00 in a report on Wednesday, December 7th. JPMorgan Chase & Co. lifted their price objective on shares of SolarEdge Technologies from $358.00 to $361.00 and gave the company an “overweight” rating in a report on Tuesday, February 14th. Finally, Cowen lifted their price objective on shares of SolarEdge Technologies from $309.00 to $360.00 in a report on Monday, December 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Moderate Buy” and an average price target of $367.65.

Insiders Place Their Bets

In other SolarEdge Technologies news, insider Meir Adest sold 5,000 shares of SolarEdge Technologies stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $316.57, for a total transaction of $1,582,850.00. Following the completion of the transaction, the insider now directly owns 139,068 shares of the company’s stock, valued at $44,024,756.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.17% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $314.27 on Wednesday. The company has a market cap of $17.65 billion, a price-to-earnings ratio of 190.47, a PEG ratio of 1.37 and a beta of 1.43. SolarEdge Technologies, Inc. has a 1-year low of $190.15 and a 1-year high of $375.90. The company’s fifty day simple moving average is $309.18 and its 200 day simple moving average is $284.73. The company has a current ratio of 3.26, a quick ratio of 2.44 and a debt-to-equity ratio of 0.31.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last released its quarterly earnings data on Monday, February 13th. The semiconductor company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $1.28. SolarEdge Technologies had a net margin of 3.02% and a return on equity of 10.04%. The firm had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $879.06 million. During the same period in the previous year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 61.4% compared to the same quarter last year. On average, research analysts forecast that SolarEdge Technologies, Inc. will post 7.18 earnings per share for the current fiscal year.

About SolarEdge Technologies

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SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.