Van ECK Associates Corp Purchases 20,356 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Van ECK Associates Corp increased its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,938 shares of the semiconductor company’s stock after purchasing an additional 20,356 shares during the period. Van ECK Associates Corp owned about 0.25% of SolarEdge Technologies worth $13,098,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at $25,000. GAMMA Investing LLC acquired a new position in SolarEdge Technologies in the fourth quarter worth about $30,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in SolarEdge Technologies by 194.7% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 183 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in SolarEdge Technologies by 4,000.0% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 410 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 400 shares during the period. Finally, NewSquare Capital LLC grew its stake in shares of SolarEdge Technologies by 4,066.7% in the 3rd quarter. NewSquare Capital LLC now owns 500 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 488 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on SEDG. Wells Fargo & Company cut their target price on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. BMO Capital Markets lowered their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Wednesday, February 21st. DZ Bank began coverage on shares of SolarEdge Technologies in a report on Wednesday, April 17th. They set a “hold” rating and a $62.00 price target for the company. The Goldman Sachs Group dropped their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a report on Wednesday, January 24th. Finally, Susquehanna cut their price objective on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating for the company in a research report on Friday, April 5th. Four investment 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. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of “Hold” and a consensus target price of $98.38.

Insider Transactions at SolarEdge Technologies

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

SolarEdge Technologies Stock Down 0.9 %

Shares of NASDAQ:SEDG opened at $58.10 on Thursday. The company has a 50 day moving average price of $65.77 and a two-hundred day moving average price of $76.03. 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 capitalization of $3.33 billion, a PE ratio of 129.11 and a beta of 1.53. SolarEdge Technologies, Inc. has a 52 week low of $53.59 and a 52 week high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. Analysts forecast that SolarEdge Technologies, Inc. will post -4.62 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.