Invesco Ltd. Grows Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Invesco Ltd. grew its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,445,164 shares of the semiconductor company’s stock after acquiring an additional 116,809 shares during the quarter. Invesco Ltd. owned 4.22% of SolarEdge Technologies worth $33,254,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after purchasing an additional 641,915 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake 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 buying an additional 8,079 shares during the period. Assenagon Asset Management S.A. grew its holdings 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 valued at $11,888,000 after buying an additional 564,490 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SolarEdge Technologies by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 728,259 shares of the semiconductor company’s stock valued at $9,909,000 after acquiring an additional 20,215 shares during the period. Finally, Meitav Investment House Ltd. increased its position in shares of SolarEdge Technologies by 0.6% in the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock valued at $7,957,000 after acquiring an additional 3,282 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $12.65 on Friday. 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 firm has a 50-day simple moving average of $15.69 and a 200-day simple moving average of $15.26. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $64.04. The stock has a market capitalization of $746.78 million, a price-to-earnings ratio of -0.41 and a beta of 1.63.

Insider Activity

In other SolarEdge Technologies news, Chairman More Avery acquired 30,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $13.70 per share, with a total value of $411,000.00. Following the completion of the purchase, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SEDG. UBS Group boosted their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler upped their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Barclays increased their price target on shares of SolarEdge Technologies from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday. Citigroup restated a “sell” rating and set a $9.00 price objective (down from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price objective on shares of SolarEdge Technologies from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.53.

SolarEdge Technologies 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.