Independent Advisor Alliance Reduces Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Independent Advisor Alliance decreased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 12.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,124 shares of the semiconductor company’s stock after selling 449 shares during the quarter. Independent Advisor Alliance’s holdings in SolarEdge Technologies were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. purchased a new position in SolarEdge Technologies during the 3rd quarter valued at $25,000. GAMMA Investing LLC purchased a new position in SolarEdge Technologies during the 4th quarter valued at $30,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 183 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in SolarEdge Technologies by 4,000.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 410 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 400 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its holdings in SolarEdge Technologies by 250.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Insider Buying and Selling at SolarEdge Technologies

In other news, Director More Avery purchased 7,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the purchase, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.67% of the company’s stock.

SolarEdge Technologies Trading Up 9.0 %

Shares of NASDAQ:SEDG opened at $52.83 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The business’s 50-day moving average is $60.65 and its 200 day moving average is $72.06. The firm has a market capitalization of $3.03 billion, a P/E ratio of -11.36 and a beta of 1.53. SolarEdge Technologies, Inc. has a 1 year low of $47.59 and a 1 year high of $306.86.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. On average, research analysts predict that SolarEdge Technologies, Inc. will post -6.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SEDG. Piper Sandler dropped their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. The Goldman Sachs Group decreased their target price on SolarEdge Technologies from $64.00 to $49.00 and set a “sell” rating for the company in a research report on Thursday, May 9th. B. Riley decreased their target price on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company decreased their target price on SolarEdge Technologies from $81.00 to $62.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. Finally, DZ Bank started coverage on SolarEdge Technologies in a research report on Wednesday, April 17th. They set a “hold” rating and a $62.00 target price for the company. Four investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.38.

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.