Amundi Has $1.54 Million Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Amundi trimmed its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,820 shares of the semiconductor company's stock after selling 45,600 shares during the quarter. Amundi owned approximately 0.18% of SolarEdge Technologies worth $1,541,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SEDG. AMG National Trust Bank purchased a new stake in shares of SolarEdge Technologies during the third quarter worth about $4,055,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in SolarEdge Technologies by 683.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company's stock worth $5,786,000 after purchasing an additional 220,304 shares during the period. Janney Montgomery Scott LLC purchased a new position in SolarEdge Technologies in the fourth quarter worth approximately $227,000. Assenagon Asset Management S.A. lifted its stake in shares of SolarEdge Technologies by 182.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock valued at $11,888,000 after purchasing an additional 564,490 shares during the last quarter. Finally, KBC Group NV boosted its stake in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after buying an additional 1,378 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research firms have issued reports on SEDG. Barclays increased their target price on shares of SolarEdge Technologies from $7.00 to $10.00 and gave the stock an "underweight" rating in a report on Tuesday, January 14th. Northland Securities lowered shares of SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 target price on the stock. in a research report on Thursday, February 20th. UBS Group boosted their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Northland Capmk downgraded SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 20th. Finally, Roth Mkm raised their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. Ten investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.65.

SolarEdge Technologies Price Performance

SEDG traded down $0.09 during midday trading on Friday, hitting $17.03. The company had a trading volume of 2,552,328 shares, compared to its average volume of 4,046,440. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $73.60. The firm's 50-day simple moving average is $15.38 and its 200-day simple moving average is $16.18. The company has a market capitalization of $1.00 billion, a PE ratio of -0.55 and a beta of 1.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the acquisition, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by corporate insiders.

About SolarEdge Technologies

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.