SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Purchased by M&G Plc

M&G Plc raised its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 932,711 shares of the semiconductor company’s stock after acquiring an additional 38,001 shares during the quarter. M&G Plc’s holdings in SolarEdge Technologies were worth $21,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trillium Asset Management LLC lifted its position in shares of SolarEdge Technologies by 1.6% in the first quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock valued at $1,960,000 after acquiring an additional 427 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. boosted its position in SolarEdge Technologies by 5.1% during the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock worth $294,000 after acquiring an additional 564 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in SolarEdge Technologies by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company’s stock worth $3,525,000 after acquiring an additional 585 shares during the period. Swiss National Bank raised its holdings in SolarEdge Technologies by 0.5% in the 1st quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock valued at $7,957,000 after acquiring an additional 600 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of SolarEdge Technologies by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock worth $727,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $14.88 on Friday. The company’s fifty day moving average price is $19.34 and its two-hundred day moving average price is $31.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. The firm has a market capitalization of $852.62 million, a P/E ratio of -1.66 and a beta of 1.59. SolarEdge Technologies, Inc. has a 12 month low of $12.38 and a 12 month high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business had revenue of $265.41 million during the quarter, compared to analysts’ expectations of $264.31 million. During the same period in the prior year, the company posted $2.06 EPS. The company’s revenue for the quarter was down 73.2% on a year-over-year basis. On average, research analysts anticipate that SolarEdge Technologies, Inc. will post -8.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Guggenheim lowered SolarEdge Technologies from a “neutral” rating to a “sell” rating and set a $10.00 target price for the company. in a research note on Thursday, October 17th. Morgan Stanley dropped their price objective on shares of SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. The Goldman Sachs Group decreased their target price on shares of SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday. Piper Sandler lowered shares of SolarEdge Technologies from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $17.00 to $9.00 in a research report on Thursday. Finally, Jefferies Financial Group lowered shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their price target for the company from $27.00 to $17.00 in a report on Tuesday, September 17th. Nine research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus target price of $24.26.

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.