SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 58.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,379 shares of the semiconductor company’s stock after selling 14,738 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in SolarEdge Technologies were worth $141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SEDG. Millstone Evans Group LLC acquired a new stake in SolarEdge Technologies in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp raised its stake in shares of SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock worth $33,000 after buying an additional 1,954 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 2,770 shares during the period. R Squared Ltd bought a new position in SolarEdge Technologies during the fourth quarter valued at about $61,000. Finally, GAMMA Investing LLC grew its holdings in SolarEdge Technologies by 655.2% during the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after acquiring an additional 4,567 shares during the period. 95.10% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman More Avery acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $13.70 per share, with a total value of $411,000.00. Following the purchase, the chairman now owns 274,478 shares of the company’s stock, valued at approximately $3,760,348.60. The trade was a 12.27 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SEDG shares. Jefferies Financial Group upped their price target on shares of SolarEdge Technologies from $9.00 to $12.00 and gave the company an “underperform” rating in a report on Friday, February 21st. Glj Research raised shares of SolarEdge Technologies from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price target on shares of SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. BMO Capital Markets cut SolarEdge Technologies from a “market perform” rating to an “underperform” rating and upped their price target for the company from $13.00 to $15.00 in a report on Thursday, February 20th. Finally, The Goldman Sachs Group raised their price objective on SolarEdge Technologies from $21.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.80.

SolarEdge Technologies Trading Down 0.5 %

NASDAQ:SEDG opened at $15.85 on Friday. The company has a market capitalization of $931.71 million, a P/E ratio of -0.51 and a beta of 1.78. The stock’s 50 day moving average price is $15.64 and its 200 day moving average price is $15.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.46 and a current ratio of 1.95. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $73.60.

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.