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Is it Wise to Invest in SolarEdge (SEDG)?

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ClearBridge Investments, an investment management firm, published its “International Growth EAFE Strategy” second quarter 2022 investor letter – a copy of which can be downloaded here. During the second quarter, the ClearBridge International Growth EAFE Strategy performed in line with its MSCI EAFE Index benchmark. The Strategy had losses across the 10 sectors in which it was invested (out of 11 total). The information technology (IT) and industrials sectors were the primary detractors. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, ClearBridge International Growth EAFE Portfolio mentioned SolarEdge Technologies, Inc. (NASDAQ:SEDG) and explained its insights for the company. Founded in 2006, SolarEdge Technologies, Inc. (NASDAQ:SEDG) is a Herzliya, Israel-based intelligent inverter solutions for the photovoltaic (PV) industry provider with a $16.3 billion market capitalization. SolarEdge Technologies, Inc. (NASDAQ:SEDG) delivered a 5.33% return since the beginning of the year, while its 12-month returns are up by 0.95%. The stock closed at $295.52 per share on August 03, 2022.

Here is what ClearBridge International Growth EAFE Portfolio has to say about SolarEdge Technologies, Inc. (NASDAQ:SEDG) in its Q2 2022 investor letter:

"We are well-positioned to participate in the accelerating energy transition. High and rising utility costs combined with policy support are driving increased penetration of home solar plus storage systems in Europe. Israel-based SolarEdge Technologies (NASDAQ:SEDG) expects to see significant growth in solar installations in this market led by Germany and Italy, among others, where consumers are not only demanding solar on the roof but a complete system solution including batteries. This phenomenon is accelerating revenue growth for these companies."

Photo by Andreas Gücklhorn on Unsplash

Our calculations show that SolarEdge Technologies, Inc. (NASDAQ:SEDG) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. SolarEdge Technologies, Inc. (NASDAQ:SEDG) was in 47 hedge fund portfolios at the end of the second quarter of 2022, compared to 34 funds in the previous quarter. SolarEdge Technologies, Inc. (NASDAQ:SEDG) delivered a 3.84% return in the past 3 months.

In May 2022, we also shared another hedge fund’s views on SolarEdge Technologies, Inc. (NASDAQ:SEDG) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.