Maryland State Retirement & Pension System Takes $1.93 Million Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Maryland State Retirement & Pension System bought a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,648 shares of the semiconductor company’s stock, valued at approximately $1,933,000.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on SEDG. Truist Financial cut their price objective on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Citigroup decreased their price objective on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Barclays upped their target price on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Royal Bank of Canada cut their price target on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 21st. Finally, The Goldman Sachs Group dropped their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research note on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, SolarEdge Technologies has an average rating of “Hold” and an average target price of $97.62.

Insider Activity at SolarEdge Technologies

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

SolarEdge Technologies Trading Down 2.3 %

Shares of SEDG stock traded down $1.35 during trading hours on Wednesday, reaching $57.36. 493,671 shares of the stock were exchanged, compared to its average volume of 2,311,643. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 130.47 and a beta of 1.53. SolarEdge Technologies, Inc. has a 12-month low of $53.59 and a 12-month high of $315.34. The company’s 50-day moving average price is $64.75 and its 200-day moving average price is $74.12. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. will post -4.68 earnings per share for the current year.

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.