First Pacific Financial Buys 856 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

First Pacific Financial grew its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 49.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,581 shares of the semiconductor company’s stock after purchasing an additional 856 shares during the period. First Pacific Financial’s holdings in SolarEdge Technologies were worth $242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP purchased a new position in shares of SolarEdge Technologies in the 1st quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of SolarEdge Technologies in the 1st quarter worth $29,000. Harbour Investments Inc. boosted its stake in shares of SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after buying an additional 50 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of SolarEdge Technologies in the 1st quarter worth $30,000. Finally, Clear Street Markets LLC boosted its stake in shares of SolarEdge Technologies by 94.6% in the 1st quarter. Clear Street Markets LLC now owns 109 shares of the semiconductor company’s stock worth $33,000 after buying an additional 53 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

Insiders Place Their Bets

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. B. Riley lowered their target price on SolarEdge Technologies from $166.00 to $133.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Truist Financial reduced their target price on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Mizuho reduced their target price on SolarEdge Technologies from $119.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Barclays reaffirmed an “underweight” rating and issued a $50.00 target price (down from $74.00) on shares of SolarEdge Technologies in a report on Wednesday, January 17th. Finally, Royal Bank of Canada reduced their price objective on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $109.69.

SolarEdge Technologies Stock Up 9.9 %

SEDG stock opened at $69.69 on Thursday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 154.87 and a beta of 1.50. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average of $70.92 and a two-hundred day moving average of $87.80. SolarEdge Technologies, Inc. has a 12 month low of $60.44 and a 12 month high of $322.19.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. The firm had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. As a group, analysts forecast that SolarEdge Technologies, Inc. will post -3.94 earnings per share for the current fiscal year.

SolarEdge Technologies 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.