Voloridge Investment Management LLC grew its position in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 83.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 35,555 shares of the semiconductor company’s stock after acquiring an additional 16,173 shares during the quarter. Voloridge Investment Management LLC’s holdings in Solaredge Technologies were worth $2,977,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Penserra Capital Management LLC bought a new stake in Solaredge Technologies during the third quarter worth approximately $9,855,000. Phoenix Holdings Ltd. bought a new position in shares of Solaredge Technologies during the 3rd quarter valued at approximately $52,201,000. Stifel Financial Corp bought a new position in shares of Solaredge Technologies during the 3rd quarter valued at approximately $535,000. State Street Corp increased its position in shares of Solaredge Technologies by 5.7% during the 3rd quarter. State Street Corp now owns 533,560 shares of the semiconductor company’s stock valued at $44,670,000 after purchasing an additional 28,584 shares during the last quarter. Finally, Arlington Capital Management Inc. purchased a new stake in Solaredge Technologies during the 3rd quarter valued at $929,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on the company. Roth Capital lowered their price target on Solaredge Technologies from $105.00 to $100.00 in a research report on Monday, November 25th. Zacks Investment Research cut shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 9th. TheStreet upgraded shares of Solaredge Technologies from a “c+” rating to a “b-” rating in a research note on Wednesday, August 7th. JMP Securities lifted their price target on shares of Solaredge Technologies to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Northland Securities assumed coverage on Solaredge Technologies in a report on Tuesday, November 26th. They issued a “buy” rating and a $102.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Solaredge Technologies currently has a consensus rating of “Buy” and an average price target of $87.31.

NASDAQ:SEDG opened at $81.72 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.09. Solaredge Technologies Inc has a 1-year low of $32.42 and a 1-year high of $96.69. The company has a 50-day moving average of $83.05 and a 200 day moving average of $73.12. The firm has a market cap of $3.97 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 1.21 and a beta of 0.02.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.22. Solaredge Technologies had a net margin of 8.39% and a return on equity of 15.89%. The business had revenue of $410.56 million for the quarter, compared to the consensus estimate of $402.89 million. During the same quarter last year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 73.5% on a year-over-year basis. Sell-side analysts anticipate that Solaredge Technologies Inc will post 3.06 EPS for the current fiscal year.

In other news, VP Rachel Prishkolnik sold 7,833 shares of Solaredge Technologies stock in a transaction on Monday, November 18th. The stock was sold at an average price of $77.02, for a total value of $603,297.66. Following the transaction, the vice president now directly owns 46,851 shares in the company, valued at approximately $3,608,464.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director More Avery sold 14,891 shares of Solaredge Technologies stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $81.14, for a total value of $1,208,255.74. Following the completion of the transaction, the director now owns 585,611 shares in the company, valued at $47,516,476.54. The disclosure for this sale can be found here. Insiders sold a total of 118,026 shares of company stock valued at $9,460,907 in the last ninety days. Corporate insiders own 7.90% of the company’s stock.

About Solaredge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Institutional Ownership by Quarter for Solaredge Technologies (NASDAQ:SEDG)

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