Goldman Sachs Energy Stocks: Top 5 Stock Picks

4. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Goldman Sachs’ Stake Value: $1,717,328,000

Number of Hedge Fund Holders: 43

SolarEdge Technologies, Inc. (NASDAQ:SEDG) is engaged in the design and distribution of optimized direct current (DC) inverter systems for solar photovoltaic setups. In the second quarter of 2023, Goldman Sachs reported owning 14.48 million shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) worth $1.7 billion, representing 0.34% of the total securities. It is one of the top Goldman Sachs energy stocks. 

On August 1, SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported a Q2 non-GAAP EPS of $2.79, beating market estimates by $0.23. The revenue increased 36.2% year-over-year to $991.29 million. However, it fell short of Street consensus by $4.6 million. 

According to Insider Monkey’s second quarter database, SolarEdge Technologies, Inc. (NASDAQ:SEDG) was part of 43 hedge fund portfolios, compared to 42 in the prior quarter. D E Shaw is the largest stakeholder of the company, with 1.50 million shares worth $404.65 million. 

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.”