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.
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.
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