Tower Research Capital LLC TRC Acquires 1,259 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Posted by Defense World Staff on Aug 19th, 2023

Tower Research Capital LLC TRC boosted its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) by 105.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,448 shares of the semiconductor company’s stock after purchasing an additional 1,259 shares during the quarter. Tower Research Capital LLC TRC’s holdings in SolarEdge Technologies were worth $744,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its holdings in SolarEdge Technologies by 102.0% during the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 50 shares during the last quarter. IFP Advisors Inc raised its holdings in SolarEdge Technologies by 62.4% during the 4th quarter. IFP Advisors Inc now owns 294 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 113 shares during the last quarter. International Assets Investment Management LLC bought a new stake in SolarEdge Technologies during the 1st quarter worth about $41,000. Steward Partners Investment Advisory LLC raised its holdings in SolarEdge Technologies by 49.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 145 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 48 shares during the last quarter. Finally, Addison Advisors LLC raised its holdings in SolarEdge Technologies by 47.5% during the 4th quarter. Addison Advisors LLC now owns 149 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 48 shares during the last quarter. 83.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Ronen Faier acquired 875 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were bought at an average price of $180.10 per share, for a total transaction of $157,587.50. Following the purchase, the chief financial officer now directly owns 73,414 shares in the company, valued at approximately $13,221,861.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.17% of the company’s stock.

SolarEdge Technologies Trading Down 0.3 %

NASDAQ:SEDG opened at $162.34 on Friday. SolarEdge Technologies, Inc. has a twelve month low of $158.01 and a twelve month high of $345.80. The company has a quick ratio of 2.75, a current ratio of 3.84 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $239.95 and a two-hundred day moving average price of $279.18. The company has a market cap of $9.18 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 0.91 and a beta of 1.34.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SEDG. Citigroup dropped their price objective on SolarEdge Technologies from $429.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, July 19th. Barclays decreased their target price on SolarEdge Technologies from $359.00 to $274.00 and set an “overweight” rating for the company in a research report on Wednesday, August 2nd. StockNews.com started coverage on SolarEdge Technologies in a research report on Thursday. They set a “hold” rating for the company. BMO Capital Markets decreased their target price on SolarEdge Technologies from $368.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, August 2nd. Finally, JPMorgan Chase & Co. decreased their target price on SolarEdge Technologies from $393.00 to $359.00 in a research report on Wednesday, July 19th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.38.

Check Out Our Latest Analysis on SolarEdge Technologies

SolarEdge Technologies Profile

(Free Report)

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.