RWC Asset Management LLP Takes $173,000 Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

RWC Asset Management LLP acquired a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,705 shares of the semiconductor company’s stock, valued at approximately $173,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SEDG. Meitav Investment House Ltd. increased its holdings in shares of 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 during the last quarter. Private Advisor Group LLC bought a new position in SolarEdge Technologies in the fourth quarter valued at $161,000. Principal Financial Group Inc. raised its position in SolarEdge Technologies by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 277,832 shares of the semiconductor company’s stock valued at $3,779,000 after purchasing an additional 11,704 shares in the last quarter. Y.D. More Investments Ltd lifted its stake 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 worth $53,000 after purchasing an additional 2,770 shares during the last quarter. Finally, Bank Hapoalim BM boosted its holdings in shares of SolarEdge Technologies by 24.0% in the 4th quarter. Bank Hapoalim BM now owns 41,626 shares of the semiconductor company’s stock worth $566,000 after purchasing an additional 8,053 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SEDG shares. Wells Fargo & Company dropped their target price on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. UBS Group upped their price target on shares of SolarEdge Technologies from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America cut shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $21.00 to $14.00 in a research report on Thursday, November 7th. Piper Sandler increased their target price on shares of SolarEdge Technologies from $9.00 to $10.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Morgan Stanley upgraded SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $11.00 to $18.00 in a report on Thursday. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.65.

SolarEdge Technologies Stock Performance

SEDG stock opened at $17.62 on Monday. The stock’s fifty day moving average price is $14.59 and its 200-day moving average price is $17.15. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $78.40. 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 company has a market cap of $1.02 billion, a P/E ratio of -0.56 and a beta of 1.56.

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.