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

Everence Capital Management Inc. lifted its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 106.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,370 shares of the semiconductor company’s stock after purchasing an additional 4,830 shares during the period. Everence Capital Management Inc.’s holdings in SolarEdge Technologies were worth $877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Altshuler Shaham Ltd raised its holdings in shares of SolarEdge Technologies by 143.8% during the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock valued at $2,701,000 after acquiring an additional 12,302 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of SolarEdge Technologies by 20,293.3% during the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock valued at $9,716,000 after acquiring an additional 103,293 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in SolarEdge Technologies by 5.4% in the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock worth $2,782,000 after purchasing an additional 1,101 shares in the last quarter. Meitav Investment House Ltd. raised its holdings in SolarEdge Technologies by 27.2% in the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock worth $61,231,000 after purchasing an additional 99,681 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its holdings in SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SEDG shares. Canaccord Genuity Group reiterated a “hold” rating and issued a $75.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, February 21st. DZ Bank started coverage on SolarEdge Technologies in a report on Wednesday. They issued a “hold” rating and a $62.00 price objective for the company. TD Cowen decreased their price objective on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Citigroup decreased their price objective on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Finally, StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a report on Thursday, December 28th. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $98.81.

Insider Transactions at SolarEdge Technologies

In related news, Director More Avery acquired 7,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.17% of the company’s stock.

SolarEdge Technologies Stock Up 0.4 %

SEDG stock opened at $59.74 on Thursday. SolarEdge Technologies, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $322.19. The business’s 50-day moving average is $70.20 and its two-hundred day moving average is $80.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 132.76 and a beta of 1.51.

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

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.