Erste Asset Management GmbH Invests $4.42 Million in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Erste Asset Management GmbH purchased a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 191,205 shares of the semiconductor company’s stock, valued at approximately $4,420,000. Erste Asset Management GmbH owned approximately 0.33% of SolarEdge Technologies as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SEDG. Yelin Lapidot Holdings Management Ltd. increased its position in shares of SolarEdge Technologies by 5.1% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 564 shares in the last quarter. Louisiana State Employees Retirement System raised its position in SolarEdge Technologies by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock worth $727,000 after acquiring an additional 700 shares during the period. Bank Hapoalim BM lifted its holdings in SolarEdge Technologies by 2.5% during the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after purchasing an additional 812 shares in the last quarter. California State Teachers Retirement System grew its position in shares of SolarEdge Technologies by 1.6% in the first quarter. California State Teachers Retirement System now owns 51,728 shares of the semiconductor company’s stock valued at $3,672,000 after purchasing an additional 827 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies during the second quarter worth about $28,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery acquired 156,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SEDG. Barclays lowered their price objective on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating on the stock in a report on Friday, November 15th. UBS Group dropped their price target on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Royal Bank of Canada dropped their target price on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, October 15th. Finally, Canaccord Genuity Group decreased their price target on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Nine equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus target price of $22.04.

SolarEdge Technologies Trading Up 0.6 %

Shares of NASDAQ SEDG opened at $15.89 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The business’s 50 day moving average is $16.73 and its two-hundred day moving average is $25.89. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm had revenue of $260.90 million during the quarter, compared to analysts’ expectations of $272.80 million. During the same quarter in the prior year, the firm posted ($1.03) EPS. SolarEdge Technologies’s quarterly revenue was down 64.0% compared to the same quarter last year. As a group, equities research analysts predict that SolarEdge Technologies, Inc. will post -19.05 EPS for the current fiscal year.

About SolarEdge Technologies

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.