SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 79.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,700 shares of the semiconductor company's stock after purchasing an additional 278,200 shares during the period. Renaissance Technologies LLC owned 1.08% of SolarEdge Technologies worth $8,537,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in SolarEdge Technologies by 14.9% during 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 purchasing an additional 641,915 shares during the period. Assenagon Asset Management S.A. raised its stake 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 acquiring an additional 564,490 shares during the period. Legal & General Group Plc lifted its holdings in 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 purchasing an additional 512,035 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of SolarEdge Technologies by 38.5% in 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 during the period. Finally, SG Americas Securities LLC increased its stake in shares of SolarEdge Technologies by 592.3% in the fourth quarter. SG Americas Securities LLC now owns 137,736 shares of the semiconductor company's stock worth $1,873,000 after purchasing an additional 117,841 shares in the last quarter. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Stock Up 1.3 %

NASDAQ SEDG traded up $0.16 during midday trading on Friday, hitting $12.65. 1,827,501 shares of the company traded hands, compared to its average volume of 4,210,186. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $64.04. The company's 50-day simple moving average is $15.67 and its 200-day simple moving average is $15.12. The company has a market cap of $746.78 million, a PE ratio of -0.41 and a beta of 1.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SEDG shares. Northland Capmk downgraded SolarEdge Technologies from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 20th. Morgan Stanley raised shares of SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $11.00 to $18.00 in a report on Thursday, February 20th. Citigroup reaffirmed a "sell" rating and set a $9.00 target price (down from $12.00) on shares of SolarEdge Technologies in a research note on Wednesday, January 8th. Canaccord Genuity Group boosted their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $21.53.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the transaction, the chairman now directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.67% of the company's stock.

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.