Amundi Pioneer Asset Management Inc. grew its stake in Solaredge Technologies Inc (NASDAQ:SEDG) by 25.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 833,383 shares of the semiconductor company’s stock after buying an additional 171,083 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in Solaredge Technologies were worth $31,401,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SEDG. Oregon Public Employees Retirement Fund purchased a new position in shares of Solaredge Technologies in the fourth quarter worth $130,000. Norges Bank purchased a new position in shares of Solaredge Technologies in the fourth quarter worth $13,951,000. BlackRock Inc. raised its holdings in shares of Solaredge Technologies by 6.5% in the first quarter. BlackRock Inc. now owns 4,709,405 shares of the semiconductor company’s stock worth $177,452,000 after buying an additional 287,461 shares during the last quarter. Noked Capital LTD purchased a new position in shares of Solaredge Technologies in the fourth quarter worth $8,431,000. Finally, Psagot Investment House Ltd. raised its holdings in shares of Solaredge Technologies by 21.8% in the fourth quarter. Psagot Investment House Ltd. now owns 880,948 shares of the semiconductor company’s stock worth $30,921,000 after buying an additional 157,494 shares during the last quarter. 82.19% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on SEDG. Zacks Investment Research raised shares of Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a report on Friday, May 10th. BidaskClub raised shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Finally, ValuEngine cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $55.33.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Monday, May 6th. The semiconductor company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.14). The business had revenue of $271.90 million during the quarter, compared to analyst estimates of $266.11 million. Solaredge Technologies had a return on equity of 19.57% and a net margin of 11.23%. The firm’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS. Research analysts predict that Solaredge Technologies Inc will post 2.6 EPS for the current fiscal year.
In other news, Director More Avery sold 4,130 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $51.04, for a total value of $210,795.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.70% of the stock is owned by corporate insiders.
Solaredge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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