NN Investment Partners Holdings N.V. raised its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 18.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,431,362 shares of the semiconductor company’s stock after buying an additional 220,275 shares during the period. NN Investment Partners Holdings N.V. owned 3.47% of SolarEdge Technologies worth $22,330,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of SEDG. Prince Street Capital Management LLC boosted its stake in SolarEdge Technologies by 12.6% in the third quarter. Prince Street Capital Management LLC now owns 965,400 shares of the semiconductor company’s stock valued at $16,633,000 after buying an additional 107,700 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its stake in SolarEdge Technologies by 16.1% in the third quarter. Global Alpha Capital Management Ltd. now owns 100,900 shares of the semiconductor company’s stock valued at $1,739,000 after buying an additional 14,000 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in SolarEdge Technologies by 281.3% in the fourth quarter. Handelsbanken Fonder AB now owns 61,000 shares of the semiconductor company’s stock valued at $756,000 after buying an additional 45,000 shares in the last quarter. State Street Corp boosted its stake in SolarEdge Technologies by 109.9% in the fourth quarter. State Street Corp now owns 40,100 shares of the semiconductor company’s stock valued at $497,000 after buying an additional 21,000 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in SolarEdge Technologies by 25.9% in the fourth quarter. Van ECK Associates Corp now owns 31,376 shares of the semiconductor company’s stock valued at $389,000 after buying an additional 6,458 shares in the last quarter. 55.61% of the stock is owned by institutional investors and hedge funds.
Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) traded up 0.78% during midday trading on Friday, hitting $19.45. The stock had a trading volume of 455,723 shares. The firm has a market cap of $808.23 million, a price-to-earnings ratio of 19.33 and a beta of -0.03. The company’s 50-day moving average price is $17.94 and its 200-day moving average price is $15.05. SolarEdge Technologies, Inc. has a 12-month low of $11.35 and a 12-month high of $21.53.
SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, May 9th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.09. The company had revenue of $115.10 million during the quarter, compared to analyst estimates of $114.10 million. SolarEdge Technologies had a return on equity of 21.03% and a net margin of 11.85%. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 earnings per share. Equities research analysts forecast that SolarEdge Technologies, Inc. will post $1.45 EPS for the current year.
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Several equities analysts recently issued reports on SEDG shares. JMP Securities raised SolarEdge Technologies from a “market perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a report on Friday, March 3rd. Vetr raised SolarEdge Technologies from a “sell” rating to a “strong-buy” rating and set a $18.52 price objective for the company in a report on Tuesday, April 11th. TheStreet raised SolarEdge Technologies from a “d” rating to a “c” rating in a report on Wednesday, April 26th. Cowen and Company set a $21.00 price objective on SolarEdge Technologies and gave the stock an “outperform” rating in a report on Wednesday, May 10th. Finally, Roth Capital set a $16.00 price objective on SolarEdge Technologies and gave the stock a “hold” rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. SolarEdge Technologies currently has a consensus rating of “Hold” and an average target price of $18.89.
In related news, Director More Avery sold 20,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $19.30, for a total transaction of $386,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Yoav Galin sold 120,000 shares of the stock in a transaction on Monday, March 27th. The stock was sold at an average price of $14.27, for a total value of $1,712,400.00. Following the sale, the vice president now owns 540,838 shares of the company’s stock, valued at $7,717,758.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,018 shares of company stock valued at $2,117,192. 16.40% of the stock is owned by corporate insiders.
About SolarEdge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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