Teachers Retirement System of The State of Kentucky Boosts Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Teachers Retirement System of The State of Kentucky grew its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 217.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,943 shares of the semiconductor company’s stock after purchasing an additional 10,926 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in SolarEdge Technologies were worth $1,492,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SEDG. Vanguard Group Inc. boosted its position in shares of SolarEdge Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after purchasing an additional 92,230 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of SolarEdge Technologies by 10.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock worth $92,210,000 after purchasing an additional 89,279 shares during the period. Impax Asset Management Group plc boosted its position in shares of SolarEdge Technologies by 1.6% during the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after purchasing an additional 14,878 shares during the period. Franklin Resources Inc. boosted its position in shares of SolarEdge Technologies by 112.0% during the 4th quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock worth $52,023,000 after purchasing an additional 293,588 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of SolarEdge Technologies by 12.4% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 530,501 shares of the semiconductor company’s stock worth $49,673,000 after purchasing an additional 58,690 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. DZ Bank assumed coverage on shares of SolarEdge Technologies in a report on Wednesday, April 17th. They set a “hold” rating and a $62.00 target price on the stock. B. Riley reduced their target price on shares of SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $71.00 target price on shares of SolarEdge Technologies in a report on Friday, June 7th. Citigroup reduced their target price on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Finally, The Goldman Sachs Group reduced their target price on shares of SolarEdge Technologies from $64.00 to $49.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Four investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, SolarEdge Technologies has a consensus rating of “Hold” and a consensus price target of $85.19.

SolarEdge Technologies Trading Down 3.8 %

Shares of SolarEdge Technologies stock opened at $33.01 on Friday. SolarEdge Technologies, Inc. has a 1 year low of $32.54 and a 1 year high of $288.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. The company has a market capitalization of $1.89 billion, a P/E ratio of -7.10 and a beta of 1.62. The company’s fifty day moving average is $50.75 and its two-hundred day moving average is $67.03.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The business had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $194.82 million. Analysts forecast that SolarEdge Technologies, Inc. will post -6.08 earnings per share for the current year.

About SolarEdge Technologies

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.