North Growth Management Ltd. Buys 30,000 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

North Growth Management Ltd. boosted its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 58.8% during the 4th quarter, HoldingsChannel reports. The fund owned 81,000 shares of the semiconductor company’s stock after acquiring an additional 30,000 shares during the quarter. North Growth Management Ltd.’s holdings in SolarEdge Technologies were worth $7,588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in shares of SolarEdge Technologies in the third quarter valued at about $25,000. GAMMA Investing LLC bought a new stake in SolarEdge Technologies in the 4th quarter valued at approximately $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 183 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of SolarEdge Technologies by 4,000.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 410 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 400 shares in the last quarter. Finally, NewSquare Capital LLC lifted its position in shares of SolarEdge Technologies by 4,066.7% in the third quarter. NewSquare Capital LLC now owns 500 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 488 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on SEDG. The Goldman Sachs Group lowered their price target on shares of SolarEdge Technologies from $64.00 to $49.00 and set a “sell” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on SolarEdge Technologies from $75.00 to $55.00 and set a “hold” rating on the stock in a report on Friday. Susquehanna cut SolarEdge Technologies from a “positive” rating to a “neutral” rating and reduced their price target for the company from $92.00 to $56.00 in a research report on Monday. Roth Mkm lowered their price target on SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Scotiabank cut their price objective on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a report on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $87.12.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG traded up $2.56 during midday trading on Monday, hitting $52.03. The stock had a trading volume of 2,847,161 shares, compared to its average volume of 2,406,805. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.98 billion, a P/E ratio of -11.38 and a beta of 1.53. The company’s 50-day moving average price is $63.94 and its 200-day moving average price is $73.48. SolarEdge Technologies, Inc. has a fifty-two week low of $48.82 and a fifty-two week high of $313.55.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The firm had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. As a group, equities research analysts predict that SolarEdge Technologies, Inc. will post -4.68 EPS for the current fiscal year.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the purchase, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.17% of the stock is currently owned by insiders.

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.