SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC increased its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 4,796.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 285,581 shares of the semiconductor company’s stock after acquiring an additional 279,749 shares during the quarter. SolarEdge Technologies makes up about 0.6% of Voloridge Investment Management LLC’s portfolio, making the stock its 24th biggest holding. Voloridge Investment Management LLC owned approximately 0.55% of SolarEdge Technologies worth $82,087,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Optimum Investment Advisors lifted its position in SolarEdge Technologies by 100.0% in the first quarter. Optimum Investment Advisors now owns 100 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 50 shares during the last quarter. TCI Wealth Advisors Inc. lifted its position in SolarEdge Technologies by 82.8% in the first quarter. TCI Wealth Advisors Inc. now owns 117 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 53 shares during the last quarter. Defined Wealth Management LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at about $37,000. Institutional & Family Asset Management LLC acquired a new position in SolarEdge Technologies in the first quarter valued at about $38,000. Finally, Capital Asset Advisory Services LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at about $41,000. 73.51% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies stock traded up $2.70 during mid-day trading on Thursday, hitting $261.66. The company had a trading volume of 2,716 shares, compared to its average volume of 758,448. The stock has a market cap of $13.60 billion, a PE ratio of 100.72, a price-to-earnings-growth ratio of 3.23 and a beta of 0.93. SolarEdge Technologies, Inc. has a 1 year low of $162.60 and a 1 year high of $377.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.13 and a current ratio of 3.99. The business has a fifty day moving average of $252.42.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Monday, May 3rd. The semiconductor company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.31. The company had revenue of $405.50 million for the quarter, compared to analyst estimates of $395.73 million. SolarEdge Technologies had a net margin of 8.94% and a return on equity of 12.59%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. As a group, equities analysts expect that SolarEdge Technologies, Inc. will post 3.17 EPS for the current year.

A number of research analysts have commented on SEDG shares. Bank of America upped their target price on shares of SolarEdge Technologies from $276.00 to $279.00 and gave the company a “buy” rating in a research report on Monday. They noted that the move was a valuation call. Stephens began coverage on shares of SolarEdge Technologies in a research report on Thursday, June 24th. They set an “overweight” rating and a $336.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of SolarEdge Technologies from $337.00 to $373.00 and gave the stock an “overweight” rating in a research report on Wednesday. B. Riley reduced their price target on shares of SolarEdge Technologies from $371.00 to $368.00 and set a “buy” rating on the stock in a research report on Tuesday, May 4th. Finally, Citigroup began coverage on shares of SolarEdge Technologies in a research report on Friday, June 25th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. SolarEdge Technologies presently has a consensus rating of “Hold” and an average price target of $310.82.

In other news, VP Meir Adest sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $261.23, for a total transaction of $2,612,300.00. Following the transaction, the vice president now directly owns 306,350 shares in the company, valued at $80,027,810.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Marcel Gani sold 334 shares of the firm’s stock in a transaction that occurred on Tuesday, June 15th. The stock was sold at an average price of $236.67, for a total transaction of $79,047.78. The disclosure for this sale can be found here. Insiders sold 38,667 shares of company stock worth $10,033,678 over the last quarter. 1.60% of the stock is currently owned by insiders.

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. It offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

Further Reading: Support Level

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

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