Mutual of America Capital Management LLC Grows Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Mutual of America Capital Management LLC lifted its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 1.0% in the third quarter, Holdings Channel.com reports. The fund owned 46,082 shares of the semiconductor company’s stock after purchasing an additional 443 shares during the period. Mutual of America Capital Management LLC’s holdings in SolarEdge Technologies were worth $12,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of SEDG. Franklin Resources Inc. boosted its stake in SolarEdge Technologies by 19.5% during the second quarter. Franklin Resources Inc. now owns 194,995 shares of the semiconductor company’s stock valued at $53,890,000 after buying an additional 31,754 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of SolarEdge Technologies by 461.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,679 shares of the semiconductor company’s stock worth $2,675,000 after acquiring an additional 7,956 shares during the period. Sphera Funds Management LTD. purchased a new position in shares of SolarEdge Technologies during the 2nd quarter worth approximately $8,899,000. Cresset Asset Management LLC grew its holdings in shares of SolarEdge Technologies by 90.9% during the 2nd quarter. Cresset Asset Management LLC now owns 2,384 shares of the semiconductor company’s stock worth $659,000 after acquiring an additional 1,135 shares during the period. Finally, Tributary Capital Management LLC grew its holdings in shares of SolarEdge Technologies by 194.1% during the 3rd quarter. Tributary Capital Management LLC now owns 6,970 shares of the semiconductor company’s stock worth $1,849,000 after acquiring an additional 4,600 shares during the period. 73.41% of the stock is owned by hedge funds and other institutional investors.

Shares of SEDG stock opened at $253.83 on Friday. SolarEdge Technologies, Inc. has a 52-week low of $199.33 and a 52-week high of $389.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.08 and a current ratio of 3.83. The firm has a market capitalization of $13.33 billion, a PE ratio of 95.43, a PEG ratio of 2.49 and a beta of 1.02. The stock has a fifty day simple moving average of $307.93 and a two-hundred day simple moving average of $291.50.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, November 2nd. The semiconductor company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). SolarEdge Technologies had a net margin of 8.24% and a return on equity of 12.86%. The company had revenue of $526.40 million for the quarter, compared to the consensus estimate of $529.73 million. During the same period last year, the company earned $0.83 EPS. On average, sell-side analysts forecast that SolarEdge Technologies, Inc. will post 3.46 EPS for the current fiscal year.

In related news, Director Tal Payne sold 25,712 shares of the stock in a transaction dated Wednesday, October 27th. The shares were sold at an average price of $345.06, for a total value of $8,872,182.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yoav Galin sold 7,700 shares of the stock in a transaction dated Thursday, October 28th. The shares were sold at an average price of $351.14, for a total transaction of $2,703,778.00. The disclosure for this sale can be found here. Insiders have sold a total of 55,305 shares of company stock valued at $18,474,212 in the last three months. Insiders own 1.60% of the company’s stock.

A number of analysts have recently commented on SEDG shares. Roth Capital boosted their price target on SolarEdge Technologies from $310.00 to $395.00 and gave the stock a “buy” rating in a research report on Wednesday, November 3rd. Truist Securities boosted their price target on SolarEdge Technologies from $340.00 to $395.00 and gave the stock a “buy” rating in a research report on Thursday, November 4th. UBS Group raised SolarEdge Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $250.00 to $280.00 in a research report on Monday, January 10th. Citigroup dropped their price target on SolarEdge Technologies from $435.00 to $385.00 and set a “buy” rating on the stock in a research report on Tuesday, December 21st. Finally, upped their price objective on SolarEdge Technologies from $280.00 to $345.00 and gave the company a “hold” rating in a research report on Monday, November 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of “Buy” and a consensus target price of $355.08.

SolarEdge Technologies Profile

SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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