882,696 Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG) Acquired by Ion Asset Management Ltd.

Ion Asset Management Ltd. purchased a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 882,696 shares of the semiconductor company’s stock, valued at approximately $12,005,000. SolarEdge Technologies accounts for about 0.7% of Ion Asset Management Ltd.’s investment portfolio, making the stock its 17th largest holding.

A number of other hedge funds have also recently made changes to their positions in SEDG. Jones Financial Companies Lllp boosted its position in shares of SolarEdge Technologies by 401.2% during 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. Millstone Evans Group LLC bought a new stake in SolarEdge Technologies during the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd lifted its position in SolarEdge Technologies by 251.8% during the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 2,770 shares during the last quarter. Meitav Investment House Ltd. grew its stake in SolarEdge Technologies by 0.6% in the 4th quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock worth $7,957,000 after buying an additional 3,282 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of SolarEdge Technologies during the 4th quarter worth $61,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

SolarEdge Technologies Trading Up 1.0 %

SolarEdge Technologies stock opened at $12.69 on Tuesday. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $64.04. The firm’s 50 day moving average price is $15.20 and its 200-day moving average price is $14.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46. The stock has a market cap of $749.26 million, a P/E ratio of -0.41 and a beta of 1.63.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SEDG shares. Northland Capmk upgraded SolarEdge Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday. Barclays raised their price objective on SolarEdge Technologies from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, April 16th. Canaccord Genuity Group upped their target price on SolarEdge Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Morgan Stanley reissued an “underweight” rating and set a $10.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group cut their price objective on shares of SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating for the company in a research note on Tuesday, April 15th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.82.

Insider Buying and Selling

In other news, Chairman More Avery acquired 30,000 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $13.70 per share, with a total value of $411,000.00. Following the transaction, the chairman now directly owns 274,478 shares of the company’s stock, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.67% of the stock is currently owned by company insiders.

SolarEdge Technologies Company Profile

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.