Connor Clark & Lunn Investment Management Ltd. Sells 178,528 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 70.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,025 shares of the semiconductor company’s stock after selling 178,528 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in SolarEdge Technologies were worth $1,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,954 shares during the last quarter. KBC Group NV increased its holdings in SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 1,378 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in SolarEdge Technologies by 251.8% in the 4th quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 2,770 shares during the last quarter. R Squared Ltd bought a new stake in SolarEdge Technologies in the 4th quarter valued at $61,000. Finally, GAMMA Investing LLC increased its holdings in SolarEdge Technologies by 655.2% in the 4th quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 4,567 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery purchased 30,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. This trade represents a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Canaccord Genuity Group lifted their price target on shares of SolarEdge Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Citigroup restated a “sell” rating and issued a $9.00 target price (down from $12.00) on shares of SolarEdge Technologies in a report on Wednesday, January 8th. Susquehanna boosted their target price on shares of SolarEdge Technologies from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Roth Mkm boosted their target price on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Ten analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.65.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $17.12 on Friday. The company has a 50 day moving average price of $15.38 and a 200-day moving average price of $16.18. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $73.60. The stock has a market capitalization of $1.01 billion, a PE ratio of -0.55 and a beta of 1.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95.

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.