Mitchell Capital Management Co. Buys 303 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Mitchell Capital Management Co. boosted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 7.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,264 shares of the semiconductor company’s stock after acquiring an additional 303 shares during the quarter. Mitchell Capital Management Co.’s holdings in SolarEdge Technologies were worth $1,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SEDG. Lake Point Wealth Management purchased a new stake in shares of SolarEdge Technologies in the second quarter valued at approximately $28,000. Institutional & Family Asset Management LLC acquired a new position in shares of SolarEdge Technologies during the first quarter worth $38,000. Optimum Investment Advisors increased its position in shares of SolarEdge Technologies by 100.0% in the 2nd quarter. Optimum Investment Advisors now owns 200 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 100 shares during the period. AllSquare Wealth Management LLC increased its position in shares of SolarEdge Technologies by 225.8% in the 1st quarter. AllSquare Wealth Management LLC now owns 215 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 149 shares during the period. Finally, Archer Investment Corp increased its position in shares of SolarEdge Technologies by 49.4% in the 2nd quarter. Archer Investment Corp now owns 242 shares of the semiconductor company’s stock valued at $67,000 after acquiring an additional 80 shares during the period. 73.10% of the stock is currently owned by institutional investors.

Shares of NASDAQ:SEDG opened at $272.51 on Wednesday. The company’s fifty day moving average is $271.84 and its 200-day moving average is $264.07. The company has a market capitalization of $14.24 billion, a PE ratio of 107.71, a P/E/G ratio of 4.44 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.92 and a current ratio of 3.73. SolarEdge Technologies, Inc. has a 52 week low of $178.32 and a 52 week high of $377.00.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Sunday, August 1st. The semiconductor company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.49. The business had revenue of $480.10 million for the quarter, compared to the consensus estimate of $455.66 million. SolarEdge Technologies had a net margin of 8.63% and a return on equity of 12.63%. The firm’s quarterly revenue was up 44.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. On average, analysts forecast that SolarEdge Technologies, Inc. will post 3.42 EPS for the current year.

In related news, VP Meir Adest sold 7,338 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $259.11, for a total value of $1,901,349.18. Following the completion of the transaction, the vice president now directly owns 285,421 shares in the company, valued at approximately $73,955,435.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marcel Gani sold 333 shares of the business’s stock in a transaction that occurred on Thursday, June 17th. The shares were sold at an average price of $259.82, for a total value of $86,520.06. The disclosure for this sale can be found here. Insiders have sold a total of 34,333 shares of company stock valued at $9,377,876 over the last three months. Company insiders own 1.60% of the company’s stock.

Several equities research analysts have recently issued reports on SEDG shares. Canaccord Genuity increased their target price on shares of SolarEdge Technologies from $260.00 to $280.00 and gave the stock a “hold” rating in a research note on Wednesday, August 4th. Stephens initiated coverage on shares of SolarEdge Technologies in a report on Thursday, June 24th. They issued an “overweight” rating and a $336.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of SolarEdge Technologies from $337.00 to $373.00 and gave the stock an “overweight” rating in a report on Wednesday, July 21st. began coverage on shares of SolarEdge Technologies in a report on Friday, June 25th. They issued a “neutral” rating and a $300.00 target price for the company. Finally, Bank of America raised their price target on shares of SolarEdge Technologies from $276.00 to $279.00 and gave the company a “buy” rating in a research report on Monday, July 19th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Buy” and an average price target of $322.13.

SolarEdge Technologies Profile

SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.

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

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