GAMMA Investing LLC Makes New Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

GAMMA Investing LLC acquired a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 321 shares of the semiconductor company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SEDG. Altshuler Shaham Ltd lifted its stake in shares of SolarEdge Technologies by 143.8% during the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock valued at $2,701,000 after buying an additional 12,302 shares during the period. International Assets Investment Management LLC boosted its position in SolarEdge Technologies by 20,293.3% during the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after acquiring an additional 103,293 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in SolarEdge Technologies by 5.4% during the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock worth $2,782,000 after acquiring an additional 1,101 shares during the last quarter. Meitav Investment House Ltd. boosted its position in SolarEdge Technologies by 27.2% during the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock worth $61,231,000 after acquiring an additional 99,681 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA boosted its position in SolarEdge Technologies by 250.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SEDG. B. Riley decreased their target price on shares of SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Piper Sandler decreased their price target on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. TD Cowen decreased their price target on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Susquehanna decreased their price target on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a report on Friday, April 5th. Finally, Wells Fargo & Company decreased their price target on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $98.38.

Insider Buying and Selling

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.17% of the stock is owned by company insiders.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $60.07 on Tuesday. The firm has a market cap of $3.44 billion, a PE ratio of 133.49 and a beta of 1.53. The firm’s 50-day simple moving average is $64.97 and its 200-day simple moving average is $74.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. SolarEdge Technologies, Inc. has a 1 year low of $53.59 and a 1 year high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Equities analysts forecast that SolarEdge Technologies, Inc. will post -4.68 earnings per share for the current fiscal year.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.