Robecosam AG boosted its position in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 18.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 520,000 shares of the semiconductor company’s stock after purchasing an additional 80,000 shares during the period. Solaredge Technologies makes up 1.3% of Robecosam AG’s portfolio, making the stock its 19th biggest position. Robecosam AG owned 1.21% of Solaredge Technologies worth $19,734,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Northern Trust Corp grew its holdings in Solaredge Technologies by 3.3% during the 2nd quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock worth $2,046,000 after acquiring an additional 3,297 shares in the last quarter. Vanguard Group Inc. grew its holdings in Solaredge Technologies by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 460,446 shares of the semiconductor company’s stock worth $9,209,000 after acquiring an additional 18,861 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Solaredge Technologies by 15.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 191,080 shares of the semiconductor company’s stock worth $3,822,000 after acquiring an additional 26,277 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Solaredge Technologies during the 3rd quarter worth $280,000. Finally, New York State Teachers Retirement System acquired a new position in Solaredge Technologies during the 3rd quarter worth $415,000. 65.65% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on SEDG. Zacks Investment Research lowered shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Vertical Group raised shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Cowen set a $53.00 price objective on shares of Solaredge Technologies and gave the stock a “buy” rating in a report on Thursday, February 15th. Oppenheimer raised their price objective on shares of Solaredge Technologies from $38.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, Vertical Research raised shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $43.12.
Solaredge Technologies Inc (SEDG) opened at $52.45 on Monday. Solaredge Technologies Inc has a 52-week low of $13.50 and a 52-week high of $52.80. The stock has a market cap of $2,302.09, a PE ratio of 23.52, a PEG ratio of 0.89 and a beta of -0.56.
Solaredge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.29. Solaredge Technologies had a net margin of 13.87% and a return on equity of 29.21%. The company had revenue of $189.34 million for the quarter, compared to the consensus estimate of $179.78 million. sell-side analysts forecast that Solaredge Technologies Inc will post 2.45 EPS for the current year.
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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