Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Connor Clark & Lunn Investment Management Ltd. lessened its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 70.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,025 shares of the semiconductor company's stock after selling 178,528 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of SolarEdge Technologies worth $1,007,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of SolarEdge Technologies by 38.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock worth $7,085,000 after purchasing an additional 144,733 shares during the period. Jones Financial Companies Lllp raised its position in SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after purchasing an additional 1,954 shares during the last quarter. RWC Asset Management LLP acquired a new position in SolarEdge Technologies during the 4th quarter worth about $173,000. Meitav Investment House Ltd. grew its position in shares of SolarEdge Technologies by 0.6% in the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company's stock valued at $7,957,000 after buying an additional 3,282 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of SolarEdge Technologies in the fourth quarter valued at about $161,000. 95.10% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research analysts have issued reports on SEDG shares. Barclays raised their price target 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. The Goldman Sachs Group boosted their target price on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, February 20th. UBS Group increased their price target on SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a 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, JPMorgan Chase & Co. cut their target price on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, January 23rd. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $21.65.

Insider Buying and Selling at SolarEdge Technologies

In other news, Chairman More Avery purchased 30,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This represents 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 accessible through the SEC website. 0.67% of the stock is owned by corporate insiders.

SolarEdge Technologies Stock Performance

SEDG stock traded up $0.17 during mid-day trading on Monday, hitting $17.20. The company had a trading volume of 1,979,019 shares, compared to its average volume of 4,055,969. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. The firm has a market cap of $1.01 billion, a PE ratio of -0.55 and a beta of 1.78. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $73.60. The stock's fifty day moving average price is $15.42 and its two-hundred day moving average price is $16.05.

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.