Everence Capital Management Inc. Buys 4,830 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Everence Capital Management Inc. grew its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 106.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,370 shares of the semiconductor company’s stock after acquiring an additional 4,830 shares during the quarter. Everence Capital Management Inc.’s holdings in SolarEdge Technologies were worth $877,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SEDG. Panagora Asset Management Inc. boosted its position in shares of SolarEdge Technologies by 28.3% in the first quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company’s stock valued at $727,000 after acquiring an additional 497 shares during the period. Rhumbline Advisers lifted its position in SolarEdge Technologies by 2.7% during the first quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company’s stock worth $14,315,000 after purchasing an additional 1,174 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in SolarEdge Technologies by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company’s stock worth $2,265,000 after purchasing an additional 435 shares during the period. Cibc World Market Inc. lifted its position in SolarEdge Technologies by 28.5% during the first quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company’s stock worth $1,562,000 after purchasing an additional 1,073 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in SolarEdge Technologies by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company’s stock worth $68,007,000 after purchasing an additional 1,902 shares during the period. Institutional investors own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SEDG shares. The Goldman Sachs Group cut their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research report on Wednesday, January 24th. TD Cowen cut their price objective on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Janney Montgomery Scott cut shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Citigroup cut their price objective on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Finally, Barclays boosted their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.81.

Insiders Place Their Bets

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the acquisition, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.17% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $59.74 on Thursday. The business’s 50 day simple moving average is $70.20 and its 200 day simple moving average is $80.44. SolarEdge Technologies, Inc. has a one year low of $57.72 and a one year high of $322.19. The stock has a market capitalization of $3.41 billion, a PE ratio of 132.76 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, research analysts forecast that SolarEdge Technologies, Inc. will post -4.04 earnings per share for the current year.

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.