SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Purchased by Invesco Ltd.

Invesco Ltd. grew its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,445,164 shares of the semiconductor company's stock after purchasing an additional 116,809 shares during the quarter. Invesco Ltd. owned approximately 4.22% of SolarEdge Technologies worth $33,254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC purchased a new position in SolarEdge Technologies in the 4th quarter valued at about $227,000. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock valued at $67,370,000 after acquiring an additional 641,915 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of SolarEdge Technologies in the fourth quarter valued at approximately $257,000. Assenagon Asset Management S.A. boosted its stake in shares of SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after acquiring an additional 564,490 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 in the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Down 7.0 %

SolarEdge Technologies stock traded down $0.92 during mid-day trading on Wednesday, reaching $12.13. 2,369,886 shares of the company's stock were exchanged, compared to its average volume of 4,204,814. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $64.04. The company has a market cap of $716.19 million, a P/E ratio of -0.39 and a beta of 1.63. The company has a fifty day moving average of $15.61 and a 200-day moving average of $15.05.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery acquired 30,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the transaction, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This represents a 12.27 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.67% of the company's stock.

Wall Street Analysts Forecast Growth

SEDG has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Susquehanna cut their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group boosted their price objective on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Jefferies Financial Group cut their target price on SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating for the company in a research note on Tuesday, April 15th. Finally, Northland Capmk cut shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 20th. Twelve research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.92.

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.