ClearBridge Investments, an investment management firm, published its “International Growth ADR Strategy” first quarter 2022 investor letter – a copy of which can be downloaded here. During the first quarter, the ClearBridge International Growth ADR Strategy underperformed its MSCI EAFE Index benchmark. The Strategy had losses across nine of the 10 sectors in which it was invested (out of 11 total), driven by the subsector and stock-specific allocations toward growth areas versus the benchmark. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, ClearBridge Investments International Growth ADR Strategy 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 provider with a $16.5 billion market capitalization. SolarEdge Technologies, Inc. (NASDAQ:SEDG) delivered a 7.16% return since the beginning of the year, while its 12-month returns are up by 17.44%. The stock closed at $300.66 per share on April 14, 2022.
Here is what ClearBridge Investments International Growth ADR Strategy has to say about SolarEdge Technologies, Inc. (NASDAQ:SEDG) in its Q1 2022 investor letter:
“The Strategy is well-exposed to this secular shift and to accelerated spending on alternative energy sourcing and generation. Growth in renewables should benefit SolarEdge (NASDAQ:SEDG), a company we repurchased on weakness in the first quarter that develops electronics for solar installations and should take advantage of greater incentives for solar installations in many geographies. The company has expanded its products offering to address larger markets in commercial and utility solar on top of its traditional residential solar market.”
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 34 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 33 funds in the previous quarter. SolarEdge Technologies, Inc. (NASDAQ:SEDG) delivered a 15.45% return in the past 3 months.
In April 2022, we published an article that includes 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 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
