Guggenheim Capital LLC Sells 26,025 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Guggenheim Capital LLC decreased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,343 shares of the semiconductor company's stock after selling 26,025 shares during the quarter. Guggenheim Capital LLC owned approximately 0.20% of SolarEdge Technologies worth $1,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SEDG. XTX Topco Ltd purchased a new position in SolarEdge Technologies during the 4th quarter valued at about $350,000. Renaissance Technologies LLC increased its stake in shares of SolarEdge Technologies by 79.6% during the fourth quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock valued at $8,537,000 after buying an additional 278,200 shares during the period. Legal & General Group Plc raised its holdings in shares of SolarEdge Technologies by 67.6% during the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after acquiring an additional 512,035 shares in the last quarter. Invesco Ltd. lifted its stake in SolarEdge Technologies by 5.0% in the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock worth $33,254,000 after acquiring an additional 116,809 shares during the period. Finally, Aristides Capital LLC bought a new stake in SolarEdge Technologies in the fourth quarter valued at $223,000. 95.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SEDG has been the subject of several research reports. Northland Capmk lowered shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, February 20th. UBS Group increased their price target on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. BMO Capital Markets cut SolarEdge Technologies from a "market perform" rating to an "underperform" rating and lifted their price objective for the company from $13.00 to $15.00 in a research report on Thursday, February 20th. The Goldman Sachs Group increased their target price on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Piper Sandler raised their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $21.53.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $12.10 on Tuesday. The business has a 50-day simple moving average of $15.65 and a two-hundred day simple moving average of $15.06. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $64.04. The firm has a market cap of $714.42 million, a price-to-earnings ratio of -0.39 and a beta of 1.63. 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 Activity at SolarEdge Technologies

In related news, Chairman More Avery bought 30,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the purchase, the chairman now owns 274,478 shares in the company, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.67% of the stock is owned by 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.

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