Integrated Core Strategies (Us) LLC

recently revealed that they own 3% of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in a Schedule 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, July 19th. The investor owns 1,230,572 shares of the stock valued at $27,134,113. The reporting parties listed on the disclosure included Integrated Core Strategies (US) LLC, Integrated Assets, Ltd, Millennium International Management LP, Millennium Management LLC, Millennium Group Management LLC and Israel A Englander. The disclosure is available through the SEC website at this link.

Integrated Core Strategies (Us) LLC

provided the following explanation of their ownership:

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Several other hedge funds have also bought and sold shares of SEDG. Parametric Portfolio Associates LLC acquired a new stake in SolarEdge Technologies during the first quarter worth about $592,000. Engineers Gate Manager LP acquired a new stake in SolarEdge Technologies during the first quarter worth about $566,000. Swiss National Bank increased its stake in SolarEdge Technologies by 7.5% in the first quarter. Swiss National Bank now owns 37,400 shares of the semiconductor company’s stock worth $583,000 after buying an additional 2,600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in SolarEdge Technologies by 33.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 646,198 shares of the semiconductor company’s stock worth $10,081,000 after buying an additional 160,833 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in SolarEdge Technologies by 183.7% in the first quarter. Handelsbanken Fonder AB now owns 173,062 shares of the semiconductor company’s stock worth $2,700,000 after buying an additional 112,062 shares during the period. Institutional investors own 55.72% of the company’s stock.

SolarEdge Technologies, Inc. (SEDG) traded down 0.23% during trading on Wednesday, reaching $22.05. 756,809 shares of the company’s stock were exchanged. The firm has a market cap of $916.27 million, a price-to-earnings ratio of 21.92 and a beta of -0.03. SolarEdge Technologies, Inc. has a 12 month low of $11.35 and a 12 month high of $22.90. The firm’s 50-day moving average price is $20.00 and its 200-day moving average price is $16.26.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Tuesday, May 9th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. SolarEdge Technologies had a return on equity of 21.03% and a net margin of 11.85%. The firm had revenue of $115.10 million during the quarter, compared to analyst estimates of $114.10 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was down 8.1% compared to the same quarter last year. On average, equities research analysts anticipate that SolarEdge Technologies, Inc. will post $1.42 EPS for the current year.

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A number of research firms have recently issued reports on SEDG. Cowen and Company reiterated a “buy” rating and issued a $24.00 price objective on shares of SolarEdge Technologies in a report on Friday, July 14th. UBS AG upgraded shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a report on Tuesday. Oppenheimer Holdings, Inc. upgraded shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Tuesday. CIBC upgraded shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a report on Tuesday. Finally, Needham & Company LLC boosted their target price on shares of SolarEdge Technologies from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $20.10.

In other news, Director More Avery sold 20,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $19.30, for a total transaction of $386,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lior Handelsman sold 5,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $21.44, for a total value of $107,200.00. Following the sale, the vice president now directly owns 251,814 shares of the company’s stock, valued at $5,398,892.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,510 shares of company stock valued at $875,774. Insiders own 16.40% of the company’s stock.

About SolarEdge Technologies

SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.

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

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