DekaBank Deutsche Girozentrale Reduces Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

DekaBank Deutsche Girozentrale lessened its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 30.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,200 shares of the semiconductor company's stock after selling 19,800 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.08% of SolarEdge Technologies worth $695,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings 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 valued at $2,368,000 after buying an additional 141,116 shares during the period. Teza Capital Management LLC lifted its holdings 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 valued at $681,000 after buying an additional 18,602 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings 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 valued at $67,370,000 after buying an additional 641,915 shares during the period. Headlands Technologies LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at $257,000. Finally, Renaissance Technologies LLC raised its holdings in shares of SolarEdge Technologies by 79.6% during the fourth quarter. Renaissance Technologies LLC now owns 627,700 shares of the semiconductor company's stock valued at $8,537,000 after purchasing an additional 278,200 shares during the period. Institutional investors and hedge funds own 95.10% of the company's stock.

SolarEdge Technologies Stock Performance

SEDG traded up $0.65 during midday trading on Tuesday, reaching $27.37. The company had a trading volume of 5,525,861 shares, compared to its average volume of 4,701,546. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.04. The stock has a market cap of $1.62 billion, a PE ratio of -0.91 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 business has a 50-day moving average price of $20.29 and a two-hundred day moving average price of $16.70.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The firm 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 company's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned ($1.90) earnings per share. On average, sell-side analysts expect that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SEDG has been the topic of several research reports. Northland Securities upgraded shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective on the stock in a report on Friday, May 23rd. Mizuho upped their price objective on shares of SolarEdge Technologies from $18.00 to $29.00 and gave the company a "neutral" rating in a report on Monday. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $23.00 price objective (up previously from $18.00) on shares of SolarEdge Technologies in a report on Tuesday. KeyCorp upgraded shares of SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. Finally, Susquehanna dropped their price objective on shares of SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a sell rating and eighteen have given a hold rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies has a consensus rating of "Hold" and an average target price of $17.64.

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.