Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Boosts Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management increased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 185.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 304,982 shares of the semiconductor company’s stock after buying an additional 198,198 shares during the quarter. SolarEdge Technologies makes up 0.8% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s portfolio, making the stock its 27th biggest position. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s holdings in SolarEdge Technologies were worth $4,935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New York State Common Retirement Fund bought a new position in SolarEdge Technologies in the 1st quarter valued at approximately $664,000. Ballentine Partners LLC bought a new position in SolarEdge Technologies in the 1st quarter valued at approximately $242,000. Bank of New York Mellon Corp lifted its position in SolarEdge Technologies by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 269,944 shares of the semiconductor company’s stock valued at $4,368,000 after acquiring an additional 3,171 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of SolarEdge Technologies by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 284,729 shares of the semiconductor company’s stock valued at $4,607,000 after buying an additional 6,897 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in shares of SolarEdge Technologies by 1.5% during the 1st quarter. New York State Teachers Retirement System now owns 66,436 shares of the semiconductor company’s stock valued at $1,075,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Analyst Ratings Changes

SEDG has been the topic of several research analyst reports. KeyCorp raised SolarEdge Technologies from an “underweight” rating to a “sector weight” rating in a report on Tuesday, July 8th. Guggenheim reissued a “sell” rating and set a $5.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. BNP Paribas Exane cut SolarEdge Technologies from a “neutral” rating to an “underperform” rating and set a $17.00 price target on the stock. in a report on Wednesday. The Goldman Sachs Group reissued a “neutral” rating and set a $27.00 price target on shares of SolarEdge Technologies in a report on Wednesday, July 9th. Finally, Wells Fargo & Company lowered their price target on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Ten analysts have rated the stock with a sell rating and eighteen have issued a hold rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and an average price target of $17.36.

SolarEdge Technologies Trading Up 5.9%

Shares of SolarEdge Technologies stock traded up $1.49 on Friday, hitting $26.75. 411,217 shares of the company traded hands, compared to its average volume of 4,676,515. The stock’s 50 day moving average price is $20.63 and its 200-day moving average price is $16.84. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $31.07. The company has a market cap of $1.58 billion, a PE ratio of -0.89 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.12. The company had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. SolarEdge Technologies’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.90) earnings per share. Equities research analysts predict that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

SolarEdge Technologies Company 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.