UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.28 Million Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 6.9% in the fourth quarter, HoldingsChannel reports. The fund owned 241,346 shares of the semiconductor company’s stock after acquiring an additional 15,549 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SolarEdge Technologies were worth $3,282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Grantham Mayo Van Otterloo & Co. LLC raised its stake in SolarEdge Technologies by 14.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock valued at $67,370,000 after acquiring an additional 641,915 shares during the period. Invesco Ltd. grew its holdings in shares of SolarEdge Technologies by 5.0% during the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock worth $33,254,000 after purchasing an additional 116,809 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of SolarEdge Technologies during the 4th quarter worth $17,909,000. Legal & General Group Plc grew its holdings in shares of SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after purchasing an additional 512,035 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in SolarEdge Technologies by 1.3% in the fourth quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock valued at $17,060,000 after buying an additional 16,258 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SEDG shares. Mizuho raised their price objective on SolarEdge Technologies from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday. Royal Bank of Canada lifted their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Piper Sandler lifted their price objective on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Northland Securities raised SolarEdge Technologies from an “under perform” rating to a “market perform” rating and set a $15.50 price objective on the stock in a research note on Friday, May 23rd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $10.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and an average price target of $16.84.

SolarEdge Technologies Trading Up 1.5%

Shares of SolarEdge Technologies stock opened at $17.74 on Friday. The stock has a fifty day simple moving average of $15.42 and a 200 day simple moving average of $15.09. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $49.57. The company has a market capitalization of $1.05 billion, a P/E ratio of -0.57 and a beta of 1.50. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The business had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. During the same quarter in the prior year, the company posted ($1.90) earnings per share. SolarEdge Technologies’s revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal 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.