Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 14.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,953,698 shares of the semiconductor company's stock after purchasing an additional 641,915 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 8.55% of SolarEdge Technologies worth $67,370,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its position in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after buying an additional 1,954 shares during the period. Millstone Evans Group LLC bought a new position in SolarEdge Technologies during the fourth quarter worth $27,000. Y.D. More Investments Ltd raised its stake in SolarEdge Technologies by 251.8% during the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 2,770 shares during the last quarter. Meitav Investment House Ltd. boosted its holdings in SolarEdge Technologies by 0.6% in the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company's stock valued at $7,957,000 after purchasing an additional 3,282 shares during the period. Finally, Two Sigma Advisers LP grew its position in SolarEdge Technologies by 0.3% in the 3rd quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company's stock worth $26,166,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.
Analyst Upgrades and Downgrades
SEDG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of SolarEdge Technologies from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Glj Research upgraded SolarEdge Technologies from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, December 17th. Piper Sandler upped their target price on SolarEdge Technologies from $9.00 to $10.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their target price on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company lowered their price target on shares of SolarEdge Technologies from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $21.80.
View Our Latest Stock Report on SEDG
Insiders Place Their Bets
In related news, Chairman More Avery acquired 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, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.67% of the company's stock.
SolarEdge Technologies Trading Down 19.6 %
Shares of NASDAQ:SEDG traded down $2.81 during trading on Thursday, hitting $11.54. 4,527,351 shares of the company's stock were exchanged, compared to its average volume of 4,146,509. The firm has a 50-day moving average price of $15.86 and a two-hundred day moving average price of $15.60. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $72.10. The firm has a market cap of $678.12 million, a P/E ratio of -0.37 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.
SolarEdge Technologies Company Profile
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Free Report)
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.
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