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

Alps Advisors Inc. lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 21.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,197 shares of the semiconductor company's stock after selling 15,457 shares during the period. Alps Advisors Inc. owned approximately 0.09% of SolarEdge Technologies worth $893,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SEDG. GAMMA Investing LLC raised its position in SolarEdge Technologies by 2,680.8% in the first quarter. GAMMA Investing LLC now owns 146,380 shares of the semiconductor company's stock worth $2,368,000 after purchasing an additional 141,116 shares in the last quarter. Teza Capital Management LLC raised its position in SolarEdge Technologies by 59.1% in the fourth quarter. Teza Capital Management LLC now owns 50,052 shares of the semiconductor company's stock worth $681,000 after purchasing an additional 18,602 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after purchasing an additional 641,915 shares in the last quarter. Headlands Technologies LLC acquired a new position in SolarEdge Technologies in the fourth quarter worth about $257,000. Finally, Renaissance Technologies LLC raised its position in SolarEdge Technologies by 79.6% in the fourth quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock worth $8,537,000 after purchasing an additional 278,200 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.

SolarEdge Technologies Trading Up 5.2%

Shares of NASDAQ SEDG traded up $1.29 during midday trading on Thursday, reaching $26.25. 1,214,197 shares of the stock were exchanged, compared to its average volume of 4,683,888. The business has a 50-day simple moving average of $20.50 and a two-hundred day simple moving average of $16.76. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -0.86 and a beta of 1.62. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $31.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Glj Research lowered shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price target for the company. in a research report on Tuesday, June 17th. BNP Paribas Exane lowered shares of SolarEdge Technologies from a "neutral" rating to an "underperform" rating and set a $17.00 price objective for the company. in a report on Wednesday. Mizuho raised their price objective on shares of SolarEdge Technologies from $18.00 to $29.00 and gave the stock a "neutral" rating in a report on Monday. Barclays raised shares of SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $12.00 to $29.00 in a report on Monday. Finally, Susquehanna dropped their price objective on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Eleven equities research analysts have rated the stock with a sell rating and eighteen have issued a hold rating to the stock. According to data from MarketBeat, SolarEdge Technologies currently has an average rating of "Hold" and a consensus price target of $17.61.

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.