Teachers Retirement System of The State of Kentucky Has $1.49 Million Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Teachers Retirement System of The State of Kentucky raised its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 217.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,943 shares of the semiconductor company’s stock after acquiring an additional 10,926 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in SolarEdge Technologies were worth $1,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEDG. Yelin Lapidot Holdings Management Ltd. raised its holdings in shares of SolarEdge Technologies by 0.6% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company’s stock worth $2,014,000 after buying an additional 130 shares in the last quarter. Liberty One Investment Management LLC raised its holdings in shares of SolarEdge Technologies by 4.2% during the 4th quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock worth $345,000 after buying an additional 148 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after buying an additional 183 shares in the last quarter. Strategic Advocates LLC raised its holdings in shares of SolarEdge Technologies by 10.1% during the 4th quarter. Strategic Advocates LLC now owns 2,329 shares of the semiconductor company’s stock worth $218,000 after buying an additional 214 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of SolarEdge Technologies by 7.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,556 shares of the semiconductor company’s stock worth $461,000 after buying an additional 246 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Canaccord Genuity Group lowered their price target on SolarEdge Technologies from $75.00 to $58.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Roth Mkm lowered their target price on SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Janney Montgomery Scott cut SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Barclays upped their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Northland Securities cut SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.19.

SolarEdge Technologies Stock Down 3.8 %

Shares of SolarEdge Technologies stock opened at $33.01 on Friday. SolarEdge Technologies, Inc. has a one year low of $32.54 and a one year high of $288.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The stock’s 50-day moving average is $50.75 and its 200 day moving average is $67.03. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -7.10 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.07) by ($0.35). The firm had revenue of $204.40 million during the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. Equities research analysts anticipate that SolarEdge Technologies, Inc. will post -6.08 EPS for the current year.

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.