Migdal Insurance & Financial Holdings Ltd. Raises Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Migdal Insurance & Financial Holdings Ltd. lifted its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 12.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 530,501 shares of the semiconductor company’s stock after purchasing an additional 58,690 shares during the quarter. SolarEdge Technologies accounts for about 1.0% of Migdal Insurance & Financial Holdings Ltd.’s investment portfolio, making the stock its 26th biggest holding. Migdal Insurance & Financial Holdings Ltd.’s holdings in SolarEdge Technologies were worth $49,673,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SEDG. Baillie Gifford & Co. grew its position in shares of SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after acquiring an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in SolarEdge Technologies by 108.5% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after purchasing an additional 778,034 shares during the period. Norges Bank bought a new position in shares of SolarEdge Technologies during the fourth quarter worth $115,423,000. Price T Rowe Associates Inc. MD increased its holdings in SolarEdge Technologies by 432.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 395,823 shares of the semiconductor company’s stock valued at $120,311,000 after acquiring an additional 321,509 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in shares of SolarEdge Technologies by 46.3% during the third quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock valued at $121,067,000 after purchasing an additional 297,089 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Price Performance

Shares of SEDG stock traded up $0.79 on Wednesday, reaching $60.31. 1,381,199 shares of the company were exchanged, compared to its average volume of 2,396,794. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 132.27 and a beta of 1.51. The business has a 50-day moving average price of $70.53 and a 200 day moving average price of $80.58. 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 $57.72 and a 1 year high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. The firm 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 research analysts forecast that SolarEdge Technologies, Inc. will post -4.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SEDG. B. Riley cut their price objective on shares of SolarEdge Technologies from $166.00 to $133.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. 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 research note on Wednesday, February 21st. Truist Financial reduced their price target on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Wells Fargo & Company lowered their target price on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Finally, BMO Capital Markets decreased their price objective on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $100.28.

Insider Buying and Selling at SolarEdge Technologies

In other news, Director More Avery bought 7,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were bought at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now directly owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.17% of the stock is currently owned by company insiders.

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.