Legal & General Group Plc Buys 512,035 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Legal & General Group Plc lifted its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 67.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,269,298 shares of the semiconductor company's stock after acquiring an additional 512,035 shares during the quarter. Legal & General Group Plc owned approximately 2.19% of SolarEdge Technologies worth $17,262,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SEDG. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of SolarEdge Technologies by 14.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after purchasing an additional 641,915 shares during the period. Invesco Ltd. increased its holdings in SolarEdge Technologies by 5.0% during the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock worth $33,254,000 after buying an additional 116,809 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in SolarEdge Technologies by 0.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company's stock worth $13,760,000 after acquiring an additional 8,079 shares during the period. Assenagon Asset Management S.A. boosted its stake in 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 valued at $11,888,000 after acquiring an additional 564,490 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of SolarEdge Technologies by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 728,259 shares of the semiconductor company's stock valued at $9,909,000 after acquiring an additional 20,215 shares during the period. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Trading Up 1.3 %

NASDAQ SEDG traded up $0.16 during trading on Friday, hitting $12.65. The company had a trading volume of 1,827,501 shares, compared to its average volume of 4,202,820. The company's fifty day moving average is $15.67 and its 200-day moving average is $15.20. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $64.04. 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 company has a market cap of $746.78 million, a price-to-earnings ratio of -0.41 and a beta of 1.63.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SEDG. Citigroup reaffirmed a "sell" rating and set a $9.00 price target (down previously from $12.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. UBS Group upped their price target on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Morgan Stanley upgraded shares of SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $11.00 to $18.00 in a research note on Thursday, February 20th. Finally, Northland Securities downgraded SolarEdge Technologies from a "market perform" rating to an "under perform" rating and set a $15.00 target price on the stock. in a research report on Thursday, February 20th. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $21.53.

Insider Buying and Selling

In other news, Chairman More Avery purchased 30,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, with a total value of $411,000.00. Following the completion of the purchase, the chairman now directly owns 274,478 shares in the company, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.67% of the stock is owned by insiders.

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.