Millstone Evans Group LLC Invests $27,000 in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Millstone Evans Group LLC bought a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,000 shares of the semiconductor company’s stock, valued at approximately $27,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Two Sigma Advisers LP raised its position in SolarEdge Technologies by 0.3% in the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company’s stock valued at $26,166,000 after purchasing an additional 3,400 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of SolarEdge Technologies by 0.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,011,760 shares of the semiconductor company’s stock valued at $13,760,000 after buying an additional 8,079 shares during the period. Assenagon Asset Management S.A. lifted its position in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company’s stock worth $11,888,000 after acquiring an additional 564,490 shares in the last quarter. Geode Capital Management LLC grew its position in SolarEdge Technologies by 3.7% in the third quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company’s stock valued at $16,227,000 after acquiring an additional 25,474 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its stake in shares of SolarEdge Technologies by 0.6% during the fourth quarter. Meitav Investment House Ltd. now owns 585,391 shares of the semiconductor company’s stock valued at $7,957,000 after purchasing an additional 3,282 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Roth Mkm upped their target price on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Susquehanna lifted their target price on SolarEdge Technologies from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Morgan Stanley raised SolarEdge Technologies from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $11.00 to $18.00 in a report on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Barclays increased their target price on SolarEdge Technologies from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, January 14th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average target price of $21.65.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery purchased 30,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $13.70 per share, with a total value of $411,000.00. Following the completion of the purchase, the chairman now owns 274,478 shares in the company, valued at $3,760,348.60. This trade represents a 12.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.67% of the company’s stock.

SolarEdge Technologies Trading Up 1.0 %

Shares of NASDAQ:SEDG opened at $17.20 on Tuesday. The company’s 50-day moving average price is $15.48 and its 200 day moving average price is $16.02. The company has a market cap of $1.01 billion, a PE ratio of -0.55 and a beta of 1.78. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $73.60.

About SolarEdge Technologies

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.