Louisiana State Employees Retirement System lifted its position in Solaredge Technologies Inc (NASDAQ:SEDG) by 11.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,900 shares of the semiconductor company’s stock after acquiring an additional 2,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Solaredge Technologies were worth $712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ayalon Holdings Ltd. bought a new position in shares of Solaredge Technologies in the second quarter worth approximately $134,000. NewSquare Capital LLC bought a new position in shares of Solaredge Technologies in the second quarter worth approximately $161,000. Sei Investments Co. lifted its stake in shares of Solaredge Technologies by 114.4% in the first quarter. Sei Investments Co. now owns 3,107 shares of the semiconductor company’s stock worth $163,000 after buying an additional 1,658 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Solaredge Technologies in the second quarter worth approximately $193,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Solaredge Technologies in the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 73.99% of the company’s stock.

SEDG opened at $40.27 on Friday. Solaredge Technologies Inc has a twelve month low of $29.95 and a twelve month high of $70.74. The company has a market cap of $1.90 billion, a PE ratio of 17.90, a P/E/G ratio of 0.68 and a beta of -0.48.

Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Thursday, August 2nd. The semiconductor company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.09. Solaredge Technologies had a net margin of 14.85% and a return on equity of 32.26%. The firm had revenue of $227.10 million during the quarter, compared to analysts’ expectations of $225.31 million. During the same period in the previous year, the company earned $0.55 earnings per share. The firm’s quarterly revenue was up 66.9% on a year-over-year basis. As a group, analysts anticipate that Solaredge Technologies Inc will post 2.79 EPS for the current fiscal year.

In other news, VP Meir Adest sold 28,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $55.48, for a total transaction of $1,553,440.00. Following the completion of the transaction, the vice president now directly owns 341,040 shares of the company’s stock, valued at $18,920,899.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.70% of the stock is owned by insiders.

Several research analysts have recently issued reports on the stock. B. Riley set a $64.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a research note on Friday, August 3rd. ValuEngine downgraded shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Roth Capital set a $60.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a research note on Friday, August 3rd. BidaskClub downgraded shares of Solaredge Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Finally, Zacks Investment Research downgraded shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Solaredge Technologies currently has an average rating of “Hold” and a consensus target price of $58.09.

About Solaredge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.

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Institutional Ownership by Quarter for Solaredge Technologies (NASDAQ:SEDG)

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