20,648 Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG) Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System acquired a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 20,648 shares of the semiconductor company’s stock, valued at approximately $1,933,000.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SEDG shares. Scotiabank cut their price target on shares of SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. Citigroup lowered their price objective on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets reduced their price target on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 21st. Barclays lifted their price target on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Finally, DZ Bank initiated coverage on shares of SolarEdge Technologies in a report on Wednesday, April 17th. They issued a “hold” rating and a $62.00 price target for the company. Four 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. Based on data from MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $97.62.

SolarEdge Technologies Price Performance

SEDG stock traded down $1.35 during trading on Wednesday, reaching $57.36. 493,671 shares of the company were exchanged, compared to its average volume of 2,311,643. SolarEdge Technologies, Inc. has a twelve month low of $53.59 and a twelve month high of $315.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 130.47 and a beta of 1.53. The company has a 50-day moving average of $64.75 and a two-hundred day moving average of $74.12.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating the consensus estimate of ($2.01) by $0.60. The company had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, equities analysts predict that SolarEdge Technologies, Inc. will post -4.68 earnings per share for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the company’s stock in a transaction dated 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 purchase, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.17% of the company’s stock.

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.