New York State Teachers Retirement System boosted its position in Solaredge Technologies Inc (NASDAQ:SEDG) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,103 shares of the semiconductor company’s stock after acquiring an additional 6,209 shares during the quarter. New York State Teachers Retirement System owned 0.10% of Solaredge Technologies worth $2,158,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Wells Fargo & Company MN grew its position in shares of Solaredge Technologies by 488.2% in the first quarter. Wells Fargo & Company MN now owns 57,927 shares of the semiconductor company’s stock valued at $3,047,000 after purchasing an additional 48,079 shares during the last quarter. Rhumbline Advisers grew its position in Solaredge Technologies by 5.9% during the first quarter. Rhumbline Advisers now owns 49,946 shares of the semiconductor company’s stock worth $2,627,000 after buying an additional 2,773 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in Solaredge Technologies by 28,197.8% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 770,549 shares of the semiconductor company’s stock worth $40,531,000 after buying an additional 767,826 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in Solaredge Technologies during the first quarter worth approximately $7,027,000. Finally, Boston Family Office LLC acquired a new stake in Solaredge Technologies during the first quarter worth approximately $316,000. 71.25% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ SEDG opened at $45.65 on Friday. Solaredge Technologies Inc has a fifty-two week low of $24.70 and a fifty-two week high of $70.74. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 0.75 and a beta of -0.43.

Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Thursday, August 2nd. The semiconductor company reported $0.82 earnings per share for the quarter, topping the 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 firm had revenue of $227.10 million during the quarter, compared to analysts’ expectations of $225.31 million. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 66.9% on a year-over-year basis. equities analysts anticipate that Solaredge Technologies Inc will post 2.82 EPS for the current fiscal year.

In other Solaredge Technologies news, VP Meir Adest sold 28,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $55.48, for a total transaction of $1,553,440.00. Following the completion of the sale, the vice president now directly owns 341,040 shares in the company, valued at $18,920,899.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 81,938 shares of company stock valued at $4,395,977 over the last 90 days. Corporate insiders own 9.70% of the company’s stock.

SEDG has been the topic of a number of analyst reports. Cowen reissued a “buy” rating and set a $57.00 price target on shares of Solaredge Technologies in a research report on Friday, August 3rd. BidaskClub downgraded Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 25th. Canaccord Genuity set a $55.00 price target on Solaredge Technologies and gave the stock a “buy” rating in a research report on Sunday, May 6th. B. Riley set a $60.00 price target on Solaredge Technologies and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Finally, 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus 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.

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

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