First Pacific Financial Increases Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

First Pacific Financial increased its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 49.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,581 shares of the semiconductor company’s stock after buying an additional 856 shares during the period. First Pacific Financial’s holdings in SolarEdge Technologies were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SEDG. NBC Securities Inc. purchased a new position in SolarEdge Technologies in the 3rd quarter valued at $25,000. Quarry LP purchased a new position in SolarEdge Technologies in the 1st quarter valued at $27,000. Harbour Investments Inc. lifted its holdings in SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 50 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in SolarEdge Technologies in the 1st quarter valued at $29,000. Finally, Hollencrest Capital Management acquired a new stake in shares of SolarEdge Technologies in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. The Goldman Sachs Group cut their target price 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. 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 report on Thursday, February 22nd. Barclays restated an “underweight” rating and issued a $50.00 price objective (down from $74.00) on shares of SolarEdge Technologies in a report on Wednesday, January 17th. Wells Fargo & Company reduced their price objective on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Finally, Janney Montgomery Scott lowered shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $109.69.

SolarEdge Technologies Price Performance

SEDG stock opened at $69.69 on Thursday. The company has a market capitalization of $3.98 billion, a P/E ratio of 154.87 and a beta of 1.50. SolarEdge Technologies, Inc. has a twelve month low of $60.44 and a twelve month high of $322.19. The business has a 50 day simple moving average of $70.92 and a 200-day simple moving average of $87.80. 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 released its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. The firm had revenue of $316.04 million during the quarter, compared to analysts’ expectations 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 -3.94 EPS for the current year.

Insider Activity

In related news, Director More Avery acquired 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.17% of the company’s stock.

About SolarEdge Technologies

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.