Arizona State Retirement System Raises Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Financial Advisors

Arizona State Retirement System increased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 3.5% in the fourth quarter, according to the company’s latest disclosure to the SEC. owned 15,747 shares of the semiconductor company after purchasing an additional 539 shares in . SolarEdge Technologies’ holdings in the Arizona State Retirement System were valued at $4,461,000 as of the latest SEC filing.

Other big investors have increased or decreased their stakes in the company. Sumitomo Mitsui DS Asset Management Co., Ltd. increased its stake in SolarEdge Technologies by 1.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Co., Ltd. now owns 3,998 shares of the semiconductor company worth $1,133,000 after purchasing an additional 41 of his shares during the previous quarter. The Oregon Public Employees Retirement Fund increased his position in SolarEdge Technologies by 1.1% in the fourth quarter. The Oregon Public Employees Retirement Fund now owns 4,312 shares of the semiconductor company worth $1,221,000 after purchasing an additional 46 shares last quarter. Oppenheimer Asset Management Inc. raised its SolarEdge Technologies stake by 0.4% in the fourth quarter. After purchasing an additional 46 shares during this period, Oppenheimer Asset Management Inc. now owns 12,967 shares of the semiconductor company’s stock, valued at $3,673,000. United Capital Financial Advisers LLC increased its position in SolarEdge Technologies stock by 2.0% in the first quarter. United Capital Financial Advisers LLC owns 2,394 shares of the semiconductor company worth $772,000 after purchasing an additional 46 shares last quarter. Finally, IFP Advisors Inc increased its SolarEdge Technologies stake by 35.1% in the third quarter. IFP Advisors Inc now owns 181 shares of the semiconductor company worth $36,000 after acquiring an additional 47 shares during this period. Hedge funds and other institutional investors own 80.01% of the company’s shares.

Price-performance ratio of SolarEdge technology

SEDG shares on Friday opened at $293.39. The company has a 50-day simple moving average of $298.53 and a 200-day simple moving average of $293.12. The stock has a market cap of $16.53 billion, a PE ratio of 86.29, a P/E/G ratio of 1.29 and a beta of 1.42. SolarEdge Technologies, Inc. has a one-year low of $190.15 and a one-year high of $375.90. The company has a debt to equity ratio of 0.28, a current ratio of 3.60 and a quick ratio of 2.44.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last reported earnings on Monday, February 13th. The semiconductor company posted its earnings per share (EPS) of $2.86 for the quarter, beating consensus expectations of $1.58 by $1.28. SolarEdge Technologies had a net profit margin of 5.86% and a return on equity of 14.49%. The company’s revenue for the quarter was $890.7 million, compared with analyst estimates of $879.06 million. Earnings were $0.60 per share in the year-ago quarter. The company’s quarterly revenue increased by 61.4% compared to the same period last year. On average, analysts expect SolarEdge Technologies, Inc. to report 7.22 EPS for the current fiscal year.

Insider activity at SolarEdge Technologies

In another SolarEdge Technologies news, insider Meir Adest sold 2,500 shares of the company’s stock in a transaction that took place on Monday, April 3rd. The shares were sold at an average price of $307.81, giving him a total of $769,525.00. Following the closing of the sale, Insiders now own 134,177 shares of the company’s stock valued at $41,301,022.37. The sale is disclosed in legal filings with the SEC, which can be accessed at this link. His 1.17% of shares are now owned by insiders.

Analyst Rating Change

Several research firms have commented on SEDGs. Bank of America raised its price target for SolarEdge Technologies from his $393.00 to his $407.00 in a report on Wednesday, April 19, giving the company a “buy” rating. TheStreet upgraded its shares in SolarEdge Technologies from a ‘c’ rating to a ‘b-‘ rating in a report Wednesday. Barclays lowered its price target on SolarEdge Technologies shares from $396.00 to $392.00 in its report on Wednesday, February 1, giving the stock an ‘overweight’ rating. Truist Financial raised its target price for SolarEdge Technologies from $370.00 to $380.00 in a research report on Friday. Finally, HSBC began covering his SolarEdge Technologies in its investigative report on Thursday, April 13th. They gave the company a buy rating and a price target of $418.00 on the company. Six equity research analysts have rated this stock with a hold rating and 14 have given the stock a buy rating. According to MarketBeat data, the current consensus rating for the stock is “moderate buy” with an average target price of $374.37.

SolarEdge Technology Profile

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SolarEdge Technologies, Inc is committed to developing energy technologies that provide inverter solutions. The company operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacture and sale of inverter solutions designed to maximize power generation.

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SolarEdge Technologies (NASDAQ:SEDG) Quarterly Institutional Ownership

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