Ballentine Partners LLC Makes New $242,000 Investment in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Ballentine Partners LLC purchased a new stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,937 shares of the semiconductor company's stock, valued at approximately $242,000.

Several other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in shares of SolarEdge Technologies by 401.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 1,954 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SolarEdge Technologies by 38.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock valued at $7,085,000 after buying an additional 144,733 shares during the period. Millstone Evans Group LLC purchased a new stake in SolarEdge Technologies in the fourth quarter worth about $27,000. KLP Kapitalforvaltning AS purchased a new stake in SolarEdge Technologies in the fourth quarter worth about $146,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of SolarEdge Technologies by 279.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 67,467 shares of the semiconductor company's stock valued at $918,000 after purchasing an additional 49,708 shares in the last quarter. 95.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SEDG shares. JPMorgan Chase & Co. restated a "neutral" rating and issued a $23.00 target price (up previously from $18.00) on shares of SolarEdge Technologies in a report on Tuesday, July 15th. KeyCorp upgraded shares of SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. The Goldman Sachs Group restated a "neutral" rating and issued a $27.00 target price on shares of SolarEdge Technologies in a report on Wednesday, July 9th. Canaccord Genuity Group increased their price target on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the stock a "hold" rating in a research report on Wednesday, May 7th. Finally, Glj Research downgraded shares of SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price target on the stock. in a research report on Tuesday, June 17th. Eleven equities research analysts have rated the stock with a sell rating and eighteen have given a hold rating to the stock. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of "Hold" and a consensus price target of $17.36.

SolarEdge Technologies Stock Up 5.4%

Shares of NASDAQ:SEDG traded up $1.37 during trading hours on Friday, hitting $26.62. The company's stock had a trading volume of 4,020,832 shares, compared to its average volume of 4,689,406. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week 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. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -0.88 and a beta of 1.62. The firm's fifty day moving average price is $20.77 and its 200 day moving average price is $16.95.

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