Teza Capital Management LLC Purchases 18,602 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Teza Capital Management LLC boosted its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 59.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,052 shares of the semiconductor company’s stock after buying an additional 18,602 shares during the period. Teza Capital Management LLC owned approximately 0.09% of SolarEdge Technologies worth $681,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of SolarEdge Technologies by 14.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock valued at $67,370,000 after purchasing an additional 641,915 shares during the period. Invesco Ltd. increased its holdings in SolarEdge Technologies by 5.0% in the fourth quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock worth $33,254,000 after purchasing an additional 116,809 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in SolarEdge Technologies in the fourth quarter valued at approximately $17,909,000. Legal & General Group Plc boosted its holdings in shares of SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock worth $17,262,000 after buying an additional 512,035 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of SolarEdge Technologies by 0.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company’s stock worth $13,760,000 after buying an additional 8,079 shares during the period. Institutional investors own 95.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SEDG. Jefferies Financial Group dropped their target price on shares of SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on shares of SolarEdge Technologies from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. UBS Group reduced their target price on SolarEdge Technologies from $22.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Piper Sandler upped their price target on SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $10.00 price target on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Twelve analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.44.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery bought 30,000 shares of SolarEdge Technologies stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $13.70 per share, for a total transaction of $411,000.00. Following the completion of the purchase, the chairman now directly owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. This trade represents a 12.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $20.76 on Tuesday. The company has a market capitalization of $1.23 billion, a PE ratio of -0.67 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $53.58. The company has a 50-day simple moving average of $15.16 and a 200 day simple moving average of $14.77.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The company had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. During the same quarter last year, the business posted ($1.90) EPS. SolarEdge Technologies’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts predict that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

SolarEdge Technologies Company 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.