Migdal Insurance & Financial Holdings Ltd. Acquires 58,690 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Migdal Insurance & Financial Holdings Ltd. grew its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 530,501 shares of the semiconductor company’s stock after acquiring an additional 58,690 shares during the period. SolarEdge Technologies accounts for approximately 1.0% of Migdal Insurance & Financial Holdings Ltd.’s holdings, making the stock its 26th largest position. Migdal Insurance & Financial Holdings Ltd. owned about 0.93% of SolarEdge Technologies worth $49,673,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in SolarEdge Technologies in the third quarter worth approximately $25,000. Quarry LP bought a new stake in shares of SolarEdge Technologies during the 1st quarter worth $27,000. Harbour Investments Inc. boosted its holdings in shares of SolarEdge Technologies by 102.0% during the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after buying an additional 50 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of SolarEdge Technologies during the 1st quarter worth $29,000. Finally, Hollencrest Capital Management bought a new stake in shares of SolarEdge Technologies during the 1st quarter worth $30,000. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Stock Up 1.3 %

SEDG traded up $0.79 on Wednesday, hitting $60.31. 1,381,199 shares of the company were exchanged, compared to its average volume of 2,396,794. SolarEdge Technologies, Inc. has a 12 month low of $57.72 and a 12 month high of $322.19. The company has a market cap of $3.45 billion, a PE ratio of 132.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The stock’s fifty day moving average is $70.53 and its 200-day moving average is $80.58.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results 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 business had revenue of $316.04 million for 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%. Equities research analysts predict that SolarEdge Technologies, Inc. will post -4.04 EPS for the current fiscal year.

Insider Activity

In other news, Director More Avery bought 7,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SEDG shares. Canaccord Genuity Group started coverage on shares of SolarEdge Technologies in a report on Tuesday, January 16th. They set a “hold” rating and a $80.00 price objective for the company. Mizuho cut their target price on shares of SolarEdge Technologies from $119.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. B. Riley cut their target price on shares of SolarEdge Technologies from $166.00 to $133.00 and set a “buy” rating for the company in a research note on Monday, February 5th. BMO Capital Markets dropped their price objective on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, February 21st. Finally, TD Cowen dropped their price objective on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.28.

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.