PGGM Investments Raises Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

PGGM Investments grew its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 36.2% during the 4th quarter, Holdings Channel reports. The fund owned 401,520 shares of the semiconductor company’s stock after acquiring an additional 106,759 shares during the period. PGGM Investments’ holdings in SolarEdge Technologies were worth $37,582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of SolarEdge Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after acquiring an additional 92,230 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of SolarEdge Technologies by 89.3% in the third 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 in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after acquiring an additional 778,034 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of SolarEdge Technologies by 10.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock valued at $92,210,000 after acquiring an additional 89,279 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of SolarEdge Technologies by 1.6% in the fourth quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock valued at $88,890,000 after acquiring an additional 14,878 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SEDG. Citigroup reduced their target price on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Barclays increased their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Royal Bank of Canada reduced their target price on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 21st. B. Riley reduced their target price on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Janney Montgomery Scott downgraded SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.38.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the acquisition, the director now owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The purchase was disclosed in a document filed 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 Stock Up 2.8 %

Shares of SEDG stock traded up $1.59 during trading hours on Friday, reaching $58.20. The company had a trading volume of 1,268,655 shares, compared to its average volume of 1,785,492. 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 twelve month low of $53.59 and a twelve month high of $315.34. The company has a market capitalization of $3.32 billion, a P/E ratio of 129.33 and a beta of 1.51. The stock’s fifty day simple moving average is $67.32 and its 200 day simple moving average is $77.98.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (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 analyst estimates of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, sell-side analysts expect that SolarEdge Technologies, Inc. will post -4.62 earnings per share for the current fiscal 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.