Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 279.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,467 shares of the semiconductor company's stock after buying an additional 49,708 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.12% of SolarEdge Technologies worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SEDG. KLP Kapitalforvaltning AS purchased a new position in SolarEdge Technologies in the fourth quarter worth $146,000. Millstone Evans Group LLC purchased a new position in shares of SolarEdge Technologies in the 4th quarter worth about $27,000. Counterpoint Mutual Funds LLC increased its position in shares of SolarEdge Technologies by 159.8% during the 4th quarter. Counterpoint Mutual Funds LLC now owns 58,832 shares of the semiconductor company's stock valued at $800,000 after purchasing an additional 36,187 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SolarEdge Technologies by 38.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock valued at $7,085,000 after purchasing an additional 144,733 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after buying an additional 1,954 shares in the last quarter. Institutional investors own 95.10% of the company's stock.

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Insider Buying and Selling

In related news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, March 4th. The stock was bought 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 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 legal filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SEDG. Northland Capmk lowered SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 20th. Piper Sandler increased their target price on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Northland Securities downgraded shares of SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 price target for the company. in a research note on Thursday, February 20th. BMO Capital Markets cut SolarEdge Technologies from a "market perform" rating to an "underperform" rating and raised their price objective for the company from $13.00 to $15.00 in a research note on Thursday, February 20th. Finally, Truist Financial decreased their price objective on SolarEdge Technologies from $15.00 to $14.00 and set a "hold" rating on the stock in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies currently has a consensus rating of "Hold" and a consensus target price of $21.80.

SolarEdge Technologies Stock Down 9.2 %

SolarEdge Technologies stock traded down $1.36 on Monday, hitting $13.35. 3,544,473 shares of the stock traded hands, compared to its average volume of 4,114,477. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $72.12. The firm has a market cap of $784.75 million, a P/E ratio of -0.43 and a beta of 1.63. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The business's fifty day simple moving average is $15.85 and its 200 day simple moving average is $15.73.

SolarEdge Technologies 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.