SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stock Position Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in SolarEdge Technologies, Inc. (NASDAQ:SEDGFree Report) by 419.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,950 shares of the semiconductor company’s stock after acquiring an additional 28,227 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of SolarEdge Technologies worth $3,271,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. acquired a new position in SolarEdge Technologies in the 3rd quarter valued at approximately $25,000. Quarry LP acquired a new position in shares of SolarEdge Technologies during the 1st quarter worth $27,000. Harbour Investments Inc. increased its stake in shares of SolarEdge Technologies by 102.0% during the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 50 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of SolarEdge Technologies during the 1st quarter worth $29,000. Finally, Hollencrest Capital Management acquired a new position in shares of SolarEdge Technologies during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Trading Up 2.2 %

Shares of SolarEdge Technologies stock opened at $68.39 on Thursday. The stock has a market capitalization of $3.91 billion, a P/E ratio of 151.98 and a beta of 1.51. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $70.84 and a 200 day simple moving average of $85.14. SolarEdge Technologies, Inc. has a 12-month low of $60.44 and a 12-month high of $322.19.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last announced its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Research analysts expect that SolarEdge Technologies, Inc. will post -3.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a research note on Thursday, December 28th. Canaccord Genuity Group initiated coverage on shares of SolarEdge Technologies in a report on Tuesday, January 16th. They set a “hold” rating and a $80.00 price objective for the company. Piper Sandler decreased their price objective on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Scotiabank decreased their price objective on shares of SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a report on Wednesday, February 21st. Finally, Susquehanna decreased their price objective on shares of SolarEdge Technologies from $107.00 to $97.00 and set a “positive” rating for the company in a report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus price target of $109.69.

View Our Latest Stock Analysis on SEDG

Insider Buying and Selling

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

About SolarEdge Technologies

(Free Report)

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.

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

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