Norges Bank Invests $39.55 Million in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Norges Bank bought a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDGFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 422,507 shares of the semiconductor company’s stock, valued at approximately $39,547,000. Norges Bank owned 0.74% of SolarEdge Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in SolarEdge Technologies by 0.5% during the 3rd quarter. Principal Financial Group Inc. now owns 61,301 shares of the semiconductor company’s stock worth $7,939,000 after acquiring an additional 327 shares during the last quarter. NBC Securities Inc. bought a new position in shares of SolarEdge Technologies during the third quarter worth $25,000. Ieq Capital LLC acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at $207,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of SolarEdge Technologies by 7.5% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,382 shares of the semiconductor company’s stock valued at $7,173,000 after buying an additional 3,842 shares in the last quarter. Finally, South Dakota Investment Council acquired a new stake in SolarEdge Technologies during the 3rd quarter worth $321,000. Institutional investors own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SEDG shares. Barclays boosted their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Wells Fargo & Company dropped their target price on shares of SolarEdge Technologies from $81.00 to $62.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 15th. The Goldman Sachs Group reduced their price target on shares of SolarEdge Technologies from $64.00 to $49.00 and set a “sell” rating for the company in a report on Thursday, May 9th. Scotiabank dropped their price objective on shares of SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. Finally, Roth Mkm reduced their target price on shares of SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Four analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and an average target price of $86.38.

Read Our Latest Stock Analysis on SEDG

SolarEdge Technologies Stock Performance

SEDG opened at $49.32 on Friday. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. SolarEdge Technologies, Inc. has a 12-month low of $46.86 and a 12-month high of $306.86. The business has a 50 day moving average of $58.81 and a 200-day moving average of $71.10. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -10.61 and a beta of 1.53.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. The business had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. On average, equities research analysts expect that SolarEdge Technologies, Inc. will post -6.08 earnings per share for the current year.

About SolarEdge Technologies

(Free Report)

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.

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

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