SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 51.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,383 shares of the semiconductor company’s stock after selling 9,903 shares during the quarter. Raymond James & Associates’ holdings in SolarEdge Technologies were worth $878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in SolarEdge Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after purchasing an additional 92,230 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after buying an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in SolarEdge Technologies by 108.5% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after acquiring an additional 778,034 shares in the last quarter. Impax Asset Management Group plc lifted its position in SolarEdge Technologies by 46.3% in the third quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock valued at $121,067,000 after acquiring an additional 297,089 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in SolarEdge Technologies by 15.3% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 895,622 shares of the semiconductor company’s stock valued at $116,022,000 after acquiring an additional 118,647 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Insider Buying and Selling

In related news, Director More Avery acquired 7,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of $67.75 per share, with a total value of $474,250.00. Following the purchase, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SEDG shares. The Goldman Sachs Group reduced their target price on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a report on Wednesday, January 24th. Janney Montgomery Scott lowered shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. TD Cowen reduced their price target on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Canaccord Genuity Group reiterated a “hold” rating and set a $75.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company dropped their price objective on shares of SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $98.38.

SolarEdge Technologies Stock Down 2.3 %

SEDG opened at $54.51 on Tuesday. The business’s fifty day simple moving average is $68.82 and its 200 day simple moving average is $78.74. SolarEdge Technologies, Inc. has a 52 week low of $53.59 and a 52 week high of $321.33. The firm has a market cap of $3.11 billion, a P/E ratio of 121.13 and a beta of 1.51. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.01) by $0.60. The company had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. As a group, equities research analysts anticipate that SolarEdge Technologies, Inc. will post -4.11 EPS for the current fiscal year.

SolarEdge Technologies Profile

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.