Hartline Investment Corp Sells 7,255 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Hartline Investment Corp lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 36.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,905 shares of the semiconductor company’s stock after selling 7,255 shares during the quarter. Hartline Investment Corp’s holdings in SolarEdge Technologies were worth $1,208,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Baillie Gifford & Co. increased its position in shares of SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after purchasing an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of SolarEdge Technologies by 108.5% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after purchasing an additional 778,034 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of SolarEdge Technologies by 46.3% in the 3rd quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock valued at $121,067,000 after purchasing an additional 297,089 shares in the last quarter. PGGM Investments raised its holdings in SolarEdge Technologies by 348.0% in the 3rd quarter. PGGM Investments now owns 294,761 shares of the semiconductor company’s stock valued at $38,174,000 after buying an additional 228,970 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in SolarEdge Technologies by 66.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 471,811 shares of the semiconductor company’s stock valued at $61,091,000 after buying an additional 187,530 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

SEDG has been the subject of several analyst reports. The Goldman Sachs Group lowered their price target on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a report on Wednesday, January 24th. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a report on Thursday, December 28th. BMO Capital Markets reduced their price objective on SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, February 21st. Susquehanna dropped their price target on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a research note on Friday, April 5th. Finally, DZ Bank started coverage on shares of SolarEdge Technologies in a report on Wednesday, April 17th. They set a “hold” rating and a $62.00 target price on the stock. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.38.

Insider Activity

In related news, Director More Avery purchased 7,000 shares of the company’s stock in a transaction on 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 acquisition, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

SolarEdge Technologies Stock Performance

SEDG traded up $1.09 on Wednesday, hitting $57.86. 2,703,840 shares of the company traded hands, compared to its average volume of 2,411,592. The stock has a market capitalization of $3.31 billion, a PE ratio of 128.89 and a beta of 1.51. The company has a 50 day moving average of $68.43 and a 200-day moving average of $78.27. SolarEdge Technologies, Inc. has a 12-month low of $53.59 and a 12-month high of $317.93. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last posted 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. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The business had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. Sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -4.14 earnings per share for the current 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.