Horan Securities Inc. Makes New $34,000 Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Horan Securities Inc. bought a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 122 shares of the semiconductor company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of SolarEdge Technologies by 3,047.6% in the third quarter. First Horizon Advisors Inc. now owns 661 shares of the semiconductor company’s stock worth $35,000 after buying an additional 640 shares during the last quarter. Huntington National Bank acquired a new stake in shares of SolarEdge Technologies in the 4th quarter valued at about $41,000. Dupont Capital Management Corp bought a new position in shares of SolarEdge Technologies during the third quarter worth about $45,000. IndexIQ Advisors LLC acquired a new position in SolarEdge Technologies in the fourth quarter worth about $45,000. Finally, Sycomore Asset Management bought a new stake in SolarEdge Technologies in the fourth quarter valued at about $132,000. 75.73% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on SolarEdge Technologies from $307.00 to $333.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 22nd. UBS Group boosted their price objective on shares of SolarEdge Technologies from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, February 16th. StockNews.com began coverage on shares of SolarEdge Technologies in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Canaccord Genuity Group lowered their target price on SolarEdge Technologies from $345.00 to $266.00 and set a “hold” rating for the company in a report on Wednesday, February 16th. Finally, Zacks Investment Research raised SolarEdge Technologies from a “strong sell” rating to a “hold” rating and set a $339.00 price target on the stock in a report on Tuesday, March 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $349.74.

Shares of SolarEdge Technologies stock opened at $284.60 on Thursday. The business has a fifty day simple moving average of $302.44 and a 200-day simple moving average of $295.27. SolarEdge Technologies, Inc. has a fifty-two week low of $199.33 and a fifty-two week high of $389.71. The firm has a market cap of $15.76 billion, a price-to-earnings ratio of 91.22, a price-to-earnings-growth ratio of 2.25 and a beta of 1.10. The company has a quick ratio of 2.53, a current ratio of 3.26 and a debt-to-equity ratio of 0.51.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last issued its quarterly earnings results on Tuesday, February 15th. The semiconductor company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.28). The business had revenue of $551.92 million during the quarter, compared to analyst estimates of $548.66 million. SolarEdge Technologies had a net margin of 7.78% and a return on equity of 13.38%. During the same period in the previous year, the company posted $0.33 earnings per share. Analysts anticipate that SolarEdge Technologies, Inc. will post 4.75 earnings per share for the current fiscal year.

In related news, VP Meir Adest sold 10,000 shares of SolarEdge Technologies stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $301.59, for a total value of $3,015,900.00. Following the transaction, the vice president now owns 199,867 shares of the company’s stock, valued at approximately $60,277,888.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Rachel Prishkolnik sold 6,815 shares of the business’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $308.84, for a total value of $2,104,744.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,214 shares of company stock worth $14,649,566. 1.60% of the stock is currently owned by company insiders.

SolarEdge Technologies Company Profile (Get Rating)

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

Further Reading

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

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