Westwood Holdings Group Inc. trimmed its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) by 68.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,120 shares of the semiconductor company’s stock after selling 49,615 shares during the period. Westwood Holdings Group Inc.’s holdings in SolarEdge Technologies were worth $1,641,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Swedbank AB purchased a new position in SolarEdge Technologies during the first quarter valued at $261,312,000. Vanguard Group Inc. grew its stake in shares of SolarEdge Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock worth $166,618,000 after buying an additional 62,942 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of SolarEdge Technologies by 2.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock worth $71,543,000 after buying an additional 23,033 shares in the last quarter. Impax Asset Management Group plc grew its stake in shares of SolarEdge Technologies by 1.6% in the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after buying an additional 14,878 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of SolarEdge Technologies by 112.0% in the 4th quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock worth $52,023,000 after acquiring an additional 293,588 shares during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.
SolarEdge Technologies Stock Performance
NASDAQ SEDG traded down $1.22 on Friday, hitting $25.32. 3,238,078 shares of the company’s stock traded hands, compared to its average volume of 5,300,463. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. SolarEdge Technologies, Inc. has a 1-year low of $23.51 and a 1-year high of $202.47. The firm’s 50-day moving average price is $33.85 and its two-hundred day moving average price is $54.38. The firm has a market capitalization of $1.45 billion, a PE ratio of -5.45 and a beta of 1.52.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) 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. As a group, analysts expect that SolarEdge Technologies, Inc. will post -6.76 EPS for the current year.
Analysts Set New Price Targets
SEDG has been the subject of several analyst reports. Mizuho lowered their target price on shares of SolarEdge Technologies from $104.00 to $84.00 and set a “buy” rating for the company in a report on Friday, May 10th. Wells Fargo & Company decreased their price objective on shares of SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a report on Tuesday, July 2nd. DZ Bank lowered shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of SolarEdge Technologies from $75.00 to $55.00 and set a “hold” rating for the company in a report on Friday, May 10th. Finally, Northland Capmk lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 9th. Four investment 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.80.
SolarEdge Technologies Company 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.