Schwab Charles Investment Management Inc. Boosts Position in Solaredge Technologies Inc (NASDAQ:SEDG)

Schwab Charles Investment Management Inc. boosted its position in Solaredge Technologies Inc (NASDAQ:SEDG) by 18.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,480 shares of the semiconductor company’s stock after purchasing an additional 18,914 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.28% of Solaredge Technologies worth $3,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in Solaredge Technologies by 19.5% in the 3rd quarter. Wells Fargo & Company MN now owns 10,291 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 1,680 shares during the last quarter. Northern Trust Corp raised its stake in Solaredge Technologies by 3.3% in the 2nd quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock valued at $2,046,000 after purchasing an additional 3,297 shares during the last quarter. Schroder Investment Management Group raised its stake in Solaredge Technologies by 2.4% in the 2nd quarter. Schroder Investment Management Group now owns 138,517 shares of the semiconductor company’s stock valued at $2,791,000 after purchasing an additional 3,310 shares during the last quarter. CAPROCK Group Inc. raised its stake in Solaredge Technologies by 30.4% in the 3rd quarter. CAPROCK Group Inc. now owns 16,360 shares of the semiconductor company’s stock valued at $467,000 after purchasing an additional 3,815 shares during the last quarter. Finally, American International Group Inc. acquired a new position in Solaredge Technologies in the 3rd quarter valued at about $123,000. 67.60% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently commented on SEDG. Zacks Investment Research downgraded shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th. B. Riley raised shares of Solaredge Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $45.00 in a research note on Thursday, November 9th. ValuEngine downgraded shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. JPMorgan Chase & Co. upped their price objective on shares of Solaredge Technologies to $43.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. Finally, Roth Capital set a $30.00 price objective on shares of Solaredge Technologies and gave the company a “buy” rating in a research note on Sunday, October 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $34.19.

Shares of Solaredge Technologies Inc (SEDG) opened at $35.20 on Monday. The stock has a market cap of $1,514.05, a P/E ratio of 21.33, a P/E/G ratio of 0.75 and a beta of 0.17. Solaredge Technologies Inc has a 1 year low of $12.25 and a 1 year high of $39.90.

Solaredge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, November 8th. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.16. Solaredge Technologies had a net margin of 14.06% and a return on equity of 22.07%. research analysts anticipate that Solaredge Technologies Inc will post 1.91 earnings per share for the current year.

In other Solaredge Technologies news, VP Yoav Galin sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $37.74, for a total value of $566,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ronen Faier sold 33,032 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $39.02, for a total value of $1,288,908.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,320 shares of company stock valued at $5,835,799. Corporate insiders own 16.40% of the company’s stock.

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About Solaredge Technologies

SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.

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

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