US Bancorp DE Lowers Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

US Bancorp DE decreased its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 46.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,642 shares of the semiconductor company’s stock after selling 3,176 shares during the quarter. US Bancorp DE’s holdings in SolarEdge Technologies were worth $50,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Two Sigma Advisers LP raised its stake in SolarEdge Technologies by 0.3% in the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock worth $26,166,000 after buying an additional 3,400 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of SolarEdge Technologies by 0.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company’s stock worth $13,760,000 after purchasing an additional 8,079 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of SolarEdge Technologies by 182.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after purchasing an additional 564,490 shares in the last quarter. Geode Capital Management LLC increased its position in shares of SolarEdge Technologies by 3.7% during the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock worth $16,227,000 after purchasing an additional 25,474 shares in the last quarter. Finally, Meitav Investment House Ltd. increased its position in shares of SolarEdge Technologies by 0.6% during the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock worth $7,957,000 after purchasing an additional 3,282 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

Wall Street Analyst Weigh In

SEDG has been the topic of a number of recent analyst reports. Northland Securities downgraded SolarEdge Technologies from a “market perform” rating to an “under perform” rating and set a $15.00 price target on the stock. in a research report on Thursday, February 20th. Glj Research raised SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price target on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Roth Mkm boosted their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Finally, BMO Capital Markets lowered shares of SolarEdge Technologies from a “market perform” rating to an “underperform” rating and boosted their price objective for the company from $13.00 to $15.00 in a report on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.65.

SolarEdge Technologies Stock Down 2.9 %

SEDG opened at $16.88 on Wednesday. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $73.60. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average price of $15.29 and a 200 day moving average price of $16.17. The company has a market cap of $992.26 million, a PE ratio of -0.54 and a beta of 1.77.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.67% of the company’s stock.

About SolarEdge Technologies

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.