Alps Advisors Inc. Has $893,000 Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Alps Advisors Inc. reduced its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 21.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,197 shares of the semiconductor company's stock after selling 15,457 shares during the period. Alps Advisors Inc. owned about 0.09% of SolarEdge Technologies worth $893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fifth Third Bancorp boosted its position in shares of SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after buying an additional 790 shares during the period. Millstone Evans Group LLC acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth about $27,000. Jones Financial Companies Lllp boosted its position in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after buying an additional 1,954 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth about $133,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of SolarEdge Technologies during the fourth quarter worth about $145,000. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Price Performance

Shares of SEDG traded up $0.29 during midday trading on Thursday, hitting $25.25. The company's stock had a trading volume of 3,436,336 shares, compared to its average volume of 4,692,498. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $31.07. The company's fifty day simple moving average is $20.63 and its two-hundred day simple moving average is $16.84. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -0.84 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The company had revenue of $219.48 million for the quarter, compared to analyst estimates of $205.39 million. During the same quarter last year, the company posted ($1.90) EPS. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SEDG shares. Canaccord Genuity Group upped their price objective on SolarEdge Technologies from $14.00 to $16.50 and gave the stock a "hold" rating in a research report on Wednesday, May 7th. KeyCorp raised SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group reissued a "neutral" rating and set a $27.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, July 9th. Guggenheim reissued a "sell" rating and set a $5.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Finally, BNP Paribas Exane cut SolarEdge Technologies from a "neutral" rating to an "underperform" rating and set a $17.00 price target for the company. in a research report on Wednesday. Eleven investment analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company. According to data from MarketBeat.com, SolarEdge Technologies has an average rating of "Hold" and an average price target of $17.61.

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.