Cubist Systematic Strategies LLC grew its stake in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 430.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,310 shares of the semiconductor company’s stock after purchasing an additional 27,035 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.07% of Solaredge Technologies worth $1,594,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SEDG. Menora Mivtachim Holdings LTD. increased its position in shares of Solaredge Technologies by 56.2% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 3,139,422 shares of the semiconductor company’s stock worth $150,221,000 after purchasing an additional 1,129,338 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Solaredge Technologies by 44.6% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 2,434,444 shares of the semiconductor company’s stock worth $116,488,000 after purchasing an additional 751,314 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Solaredge Technologies by 7,753.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 536,084 shares of the semiconductor company’s stock worth $25,651,000 after purchasing an additional 529,258 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Solaredge Technologies by 59.4% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,228,457 shares of the semiconductor company’s stock worth $58,782,000 after purchasing an additional 457,908 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Solaredge Technologies by 13.0% during the 2nd quarter. BlackRock Inc. now owns 3,708,519 shares of the semiconductor company’s stock worth $177,453,000 after purchasing an additional 426,231 shares during the last quarter. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ SEDG opened at $42.15 on Friday. Solaredge Technologies Inc has a 12 month low of $25.25 and a 12 month high of $70.74. The company has a market cap of $1.97 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 0.70 and a beta of -0.51.

Solaredge Technologies (NASDAQ:SEDG) last issued its earnings results on Thursday, August 2nd. The semiconductor company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.09. Solaredge Technologies had a return on equity of 32.26% and a net margin of 14.85%. The company had revenue of $227.10 million during the quarter, compared to the consensus estimate of $225.31 million. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue for the quarter was up 66.9% compared to the same quarter last year. research analysts anticipate that Solaredge Technologies Inc will post 2.82 earnings per share for the current fiscal year.

In other news, VP Meir Adest sold 24,000 shares of Solaredge Technologies stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $49.80, for a total transaction of $1,195,200.00. Following the completion of the transaction, the vice president now directly owns 364,456 shares in the company, valued at approximately $18,149,908.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 53,601 shares of company stock valued at $2,837,334 over the last quarter. 9.70% of the stock is currently owned by corporate insiders.

SEDG has been the topic of several recent analyst reports. Cowen reaffirmed a “buy” rating and set a $57.00 price target on shares of Solaredge Technologies in a research report on Friday, August 3rd. BidaskClub lowered Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 25th. Roth Capital set a $70.00 price target on Solaredge Technologies and gave the stock a “buy” rating in a research report on Saturday, May 26th. Zacks Investment Research lowered Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, ValuEngine lowered Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $58.36.

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 in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.

Featured Article: How to Profit and Limit Losses With Stop Orders

Institutional Ownership by Quarter for Solaredge Technologies (NASDAQ:SEDG)

Receive News & Ratings for Solaredge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solaredge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.