Optimum Investment Advisors Has $57,000 Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Posted by Defense World Staff on Mar 18th, 2023

Optimum Investment Advisors increased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 100.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200 shares of the semiconductor company’s stock after buying an additional 100 shares during the period. Optimum Investment Advisors’ holdings in SolarEdge Technologies were worth $57,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Baird Financial Group Inc. boosted its stake in SolarEdge Technologies by 3.3% during the 3rd quarter. Baird Financial Group Inc. now owns 214,840 shares of the semiconductor company’s stock valued at $49,728,000 after purchasing an additional 6,774 shares during the last quarter. Western Wealth Management LLC boosted its stake in shares of SolarEdge Technologies by 23.0% in the 3rd quarter. Western Wealth Management LLC now owns 1,261 shares of the semiconductor company’s stock worth $291,000 after buying an additional 236 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of SolarEdge Technologies by 19.0% in the 3rd quarter. Victory Capital Management Inc. now owns 10,197 shares of the semiconductor company’s stock worth $2,360,000 after buying an additional 1,631 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of SolarEdge Technologies by 27.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 115,687 shares of the semiconductor company’s stock worth $31,661,000 after buying an additional 24,621 shares during the last quarter. Finally, PGGM Investments purchased a new position in shares of SolarEdge Technologies in the 3rd quarter worth approximately $7,838,000. 80.01% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Stock Down 6.4 %

Shares of NASDAQ:SEDG opened at $267.21 on Friday. SolarEdge Technologies, Inc. has a 52-week low of $190.15 and a 52-week high of $375.90. The firm has a fifty day moving average of $310.25 and a 200 day moving average of $285.07. The firm has a market capitalization of $15.00 billion, a PE ratio of 161.95, a price-to-earnings-growth ratio of 1.41 and a beta of 1.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.44 and a current ratio of 3.26.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last announced its earnings results on Monday, February 13th. The semiconductor company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $1.28. SolarEdge Technologies had a net margin of 3.02% and a return on equity of 10.04%. The company had revenue of $890.70 million during the quarter, compared to analyst estimates of $879.06 million. During the same period in the previous year, the business earned $0.60 earnings per share. The firm’s quarterly revenue was up 61.4% compared to the same quarter last year. As a group, research analysts anticipate that SolarEdge Technologies, Inc. will post 7.18 EPS for the current fiscal year.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, insider Meir Adest sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $316.57, for a total transaction of $1,582,850.00. Following the completion of the sale, the insider now directly owns 139,068 shares in the company, valued at $44,024,756.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SEDG shares. Deutsche Bank Aktiengesellschaft boosted their target price on SolarEdge Technologies from $260.00 to $345.00 and gave the stock a “hold” rating in a research note on Tuesday, January 17th. KeyCorp assumed coverage on shares of SolarEdge Technologies in a report on Monday, March 6th. They issued a “sector weight” rating on the stock. Truist Financial lifted their price target on shares of SolarEdge Technologies from $300.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, February 10th. Cowen lifted their price target on shares of SolarEdge Technologies from $309.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, December 5th. Finally, Morgan Stanley boosted their target price on shares of SolarEdge Technologies from $344.00 to $374.00 and gave the company an “equal weight” rating in a report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $367.65.

About SolarEdge Technologies

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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.