SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Acquired by Truist Financial Corp

Truist Financial Corp grew its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,433 shares of the semiconductor company’s stock after buying an additional 197 shares during the quarter. Truist Financial Corp’s holdings in SolarEdge Technologies were worth $1,026,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Albion Financial Group UT increased its stake in shares of SolarEdge Technologies by 0.6% in the 2nd quarter. Albion Financial Group UT now owns 6,288 shares of the semiconductor company’s stock valued at $1,721,000 after purchasing an additional 39 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of SolarEdge Technologies by 2.0% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,118 shares of the semiconductor company’s stock valued at $580,000 after purchasing an additional 41 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of SolarEdge Technologies by 79.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 95 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 42 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of SolarEdge Technologies by 2.8% in the 2nd quarter. Cetera Investment Advisers now owns 1,538 shares of the semiconductor company’s stock valued at $421,000 after purchasing an additional 42 shares in the last quarter. Finally, Nvwm LLC increased its stake in shares of SolarEdge Technologies by 2.4% in the 2nd quarter. Nvwm LLC now owns 1,897 shares of the semiconductor company’s stock valued at $519,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 80.01% of the company’s stock.

SolarEdge Technologies Trading Down 10.3 %

SEDG opened at $286.72 on Friday. SolarEdge Technologies, Inc. has a one year low of $190.15 and a one year high of $375.90. The stock has a market capitalization of $16.03 billion, a PE ratio of 141.24, a P/E/G ratio of 1.31 and a beta of 1.28. The business’s 50 day moving average price is $302.28 and its 200 day moving average price is $281.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.72 and a current ratio of 3.53.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last released its quarterly earnings data on Monday, November 7th. The semiconductor company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.86). SolarEdge Technologies had a net margin of 4.11% and a return on equity of 5.75%. The business had revenue of $836.72 million during the quarter, compared to analyst estimates of $825.69 million. As a group, equities research analysts expect that SolarEdge Technologies, Inc. will post 2.96 EPS for the current year.

Insider Activity at SolarEdge Technologies

In related news, VP Meir Adest sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $290.46, for a total value of $726,150.00. Following the transaction, the vice president now directly owns 157,248 shares in the company, valued at $45,674,254.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 7,500 shares of company stock worth $2,102,625. Insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

SEDG has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on SolarEdge Technologies from $316.00 to $355.00 in a research note on Friday, November 18th. Barclays upgraded SolarEdge Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $389.00 to $396.00 in a research note on Wednesday, December 14th. Daiwa Capital Markets began coverage on SolarEdge Technologies in a research note on Friday, December 23rd. They set a “neutral” rating and a $325.00 price objective for the company. Cowen boosted their price objective on SolarEdge Technologies from $309.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, December 5th. Finally, Cowen boosted their price objective on SolarEdge Technologies from $309.00 to $360.00 in a research note on Monday, December 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $347.40.

SolarEdge Technologies Company Profile

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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 through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. 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.

Further Reading

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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