Employees Retirement System of Texas Acquires 2,000 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Employees Retirement System of Texas lifted its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 11.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,400 shares of the semiconductor company’s stock after acquiring an additional 2,000 shares during the period. Employees Retirement System of Texas’ holdings in SolarEdge Technologies were worth $5,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SEDG. First Trust Advisors LP grew its stake in shares of SolarEdge Technologies by 2.3% in the 1st quarter. First Trust Advisors LP now owns 70,405 shares of the semiconductor company’s stock valued at $2,653,000 after buying an additional 1,581 shares during the period. Envestnet Asset Management Inc. boosted its stake in SolarEdge Technologies by 9.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,515 shares of the semiconductor company’s stock valued at $6,472,000 after purchasing an additional 2,002 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in SolarEdge Technologies by 16.9% during the 1st quarter. IFM Investors Pty Ltd now owns 5,651 shares of the semiconductor company’s stock valued at $1,624,000 after purchasing an additional 818 shares during the last quarter. M&T Bank Corp boosted its stake in SolarEdge Technologies by 11.0% during the 1st quarter. M&T Bank Corp now owns 1,644 shares of the semiconductor company’s stock valued at $473,000 after purchasing an additional 163 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its stake in SolarEdge Technologies by 10.8% during the 1st quarter. Standard Life Aberdeen plc now owns 38,539 shares of the semiconductor company’s stock valued at $11,078,000 after purchasing an additional 3,762 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

In other SolarEdge Technologies news, Director Marcel Gani sold 1,000 shares of SolarEdge Technologies stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $291.78, for a total value of $291,780.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Meir Adest sold 10,000 shares of SolarEdge Technologies stock in a transaction on Thursday, September 9th. The shares were sold at an average price of $276.85, for a total transaction of $2,768,500.00. Following the completion of the sale, the vice president now owns 279,254 shares in the company, valued at $77,311,469.90. The disclosure for this sale can be found here. Insiders sold 34,000 shares of company stock worth $9,291,356 over the last quarter. Insiders own 1.60% of the company’s stock.

SEDG has been the topic of a number of research analyst reports. Susquehanna boosted their target price on SolarEdge Technologies from $325.00 to $350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 4th. Johnson Rice raised shares of SolarEdge Technologies from a “hold” rating to an “accumulate” rating and lifted their price target for the stock from $290.00 to $325.00 in a report on Tuesday, August 3rd. Canaccord Genuity boosted their target price on shares of SolarEdge Technologies from $260.00 to $280.00 and gave the company a “hold” rating in a report on Wednesday, August 4th. Stephens began coverage on shares of SolarEdge Technologies in a research report on Thursday, June 24th. They set an “overweight” rating and a $336.00 price target for the company. Finally, Morgan Stanley boosted their price target on shares of SolarEdge Technologies from $310.00 to $318.00 and gave the company an “overweight” rating in a research report on Thursday, August 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $322.13.

NASDAQ:SEDG opened at $270.40 on Friday. SolarEdge Technologies, Inc. has a 52 week low of $178.32 and a 52 week high of $377.00. The company has a quick ratio of 2.92, a current ratio of 3.73 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average price is $272.27 and its 200-day moving average price is $264.21. The stock has a market cap of $14.13 billion, a price-to-earnings ratio of 106.88, a PEG ratio of 4.44 and a beta of 0.95.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Sunday, August 1st. The semiconductor company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.49. SolarEdge Technologies had a net margin of 8.63% and a return on equity of 12.63%. The company had revenue of $480.10 million for the quarter, compared to analysts’ expectations of $455.66 million. During the same quarter last year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was up 44.7% on a year-over-year basis. As a group, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post 3.42 earnings per share for the current year.

SolarEdge Technologies Profile

SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.

Featured Article: Why Invest in High-Yield Dividend Stocks?

Want to see what other hedge funds are holding SEDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SolarEdge Technologies, Inc. (NASDAQ:SEDG).

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.