Sylebra HK Co Ltd boosted its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 24.1% during the first quarter, Holdings Channel reports. The fund owned 2,121,621 shares of the semiconductor company’s stock after buying an additional 412,073 shares during the period. SolarEdge Technologies makes up about 2.9% of Sylebra HK Co Ltd’s portfolio, making the stock its 10th largest position. Sylebra HK Co Ltd owned approximately 0.05% of SolarEdge Technologies worth $33,097,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. bought a new stake in shares of SolarEdge Technologies during the first quarter valued at $173,000. AQR Capital Management LLC bought a new stake in shares of SolarEdge Technologies during the fourth quarter valued at $138,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of SolarEdge Technologies during the first quarter valued at $178,000. CAPROCK Group Inc. bought a new stake in shares of SolarEdge Technologies during the first quarter valued at $196,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of SolarEdge Technologies during the first quarter valued at $206,000. Institutional investors own 55.61% of the company’s stock.
Shares of SolarEdge Technologies, Inc. (SEDG) traded up 0.78% during trading on Friday, hitting $19.45. The company had a trading volume of 455,723 shares. SolarEdge Technologies, Inc. has a 52 week low of $11.35 and a 52 week high of $21.53. The stock’s 50-day moving average price is $17.86 and its 200 day moving average price is $15.01. The company has a market capitalization of $808.23 million, a P/E ratio of 19.33 and a beta of -0.03.
SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The business had revenue of $115.10 million for the quarter, compared to the consensus estimate of $114.10 million. SolarEdge Technologies had a return on equity of 21.03% and a net margin of 11.85%. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities research analysts forecast that SolarEdge Technologies, Inc. will post $1.45 earnings per share for the current year.
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Several analysts have weighed in on SEDG shares. Deutsche Bank AG set a $25.00 price objective on SolarEdge Technologies and gave the company a “buy” rating in a research report on Wednesday. JMP Securities upgraded SolarEdge Technologies from a “market perform” rating to an “outperform” rating and set a $19.00 price objective for the company in a research report on Friday, March 3rd. Axiom Securities reiterated a “sell” rating on shares of SolarEdge Technologies in a research report on Friday, June 9th. Cowen and Company set a $21.00 price objective on SolarEdge Technologies and gave the company an “outperform” rating in a research report on Wednesday, May 10th. Finally, FBR & Co reiterated a “market perform” rating and issued a $50.00 price objective (up previously from $17.00) on shares of SolarEdge Technologies in a research report on Thursday, May 11th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.89.
In other SolarEdge Technologies news, VP Yoav Galin sold 120,000 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $14.27, for a total transaction of $1,712,400.00. Following the sale, the vice president now owns 540,838 shares in the company, valued at approximately $7,717,758.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director More Avery sold 20,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $19.30, for a total value of $386,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,018 shares of company stock worth $2,117,192. Company insiders own 16.40% of the company’s stock.
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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