SolarEdge Technologies, Inc. (NASDAQ:SEDG) Position Raised by Natixis

Natixis grew its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 72.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,126 shares of the semiconductor company's stock after acquiring an additional 28,563 shares during the period. Natixis owned about 0.12% of SolarEdge Technologies worth $927,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SEDG. Janney Montgomery Scott LLC acquired a new position in shares of SolarEdge Technologies during the 4th quarter worth approximately $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 acquired a new stake in shares of SolarEdge Technologies during the fourth quarter valued at $257,000. Assenagon Asset Management S.A. increased its position in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after purchasing an additional 564,490 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in SolarEdge Technologies by 79.6% in the 4th quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock valued at $8,537,000 after purchasing an additional 278,200 shares during the last quarter. Hedge funds and other institutional investors own 95.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SEDG shares. Morgan Stanley reaffirmed an "underweight" rating and set a $10.00 price target on shares of SolarEdge Technologies in a research note on Wednesday. UBS Group raised their target price on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Canaccord Genuity Group boosted their price target on SolarEdge Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Barclays raised their price objective on SolarEdge Technologies from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Wednesday, April 16th. Finally, Northland Securities upgraded SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $12.50 target price for the company in a research note on Friday. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, SolarEdge Technologies currently has an average rating of "Hold" and a consensus price target of $16.82.

SolarEdge Technologies Stock Up 7.2 %

SEDG traded up $0.84 on Friday, reaching $12.56. The company's stock had a trading volume of 4,219,256 shares, compared to its average volume of 4,251,321. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $64.04. The business's 50 day moving average is $15.34 and its 200 day moving average is $14.90. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The stock has a market cap of $741.58 million, a price-to-earnings ratio of -0.40 and a beta of 1.63.

Insider Activity

In other news, Chairman More Avery purchased 30,000 shares of the firm's stock in a transaction that occurred 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 completion of the purchase, the chairman now owns 274,478 shares of the company's stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.67% of the company's stock.

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.