SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 79.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627,700 shares of the semiconductor company’s stock after purchasing an additional 278,200 shares during the period. Renaissance Technologies LLC owned about 1.08% of SolarEdge Technologies worth $8,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of SolarEdge Technologies in the third quarter worth about $278,000. Geode Capital Management LLC raised its holdings in SolarEdge Technologies by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock worth $16,227,000 after purchasing an additional 25,474 shares during the period. Tidal Investments LLC boosted its position in SolarEdge Technologies by 19.7% during the third quarter. Tidal Investments LLC now owns 63,862 shares of the semiconductor company’s stock worth $1,463,000 after purchasing an additional 10,515 shares in the last quarter. GAMMA Investing LLC grew its holdings in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 4,567 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of SolarEdge Technologies by 182.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock valued at $11,888,000 after buying an additional 564,490 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

SEDG stock opened at $12.65 on Friday. The business’s fifty day moving average price is $15.69 and its 200 day moving average price is $15.26. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $64.04. The company has a current ratio of 1.95, a quick ratio of 1.46 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $746.78 million, a PE ratio of -0.41 and a beta of 1.63.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Susquehanna reduced their price target on shares of SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday. Roth Mkm lifted their price objective on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price target on SolarEdge Technologies from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.53.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. This represents a 12.27 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

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.