Global Alpha Capital Management Ltd. Takes Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Key Points

• Global Alpha Capital Management Ltd. has made a new investment of $719,000 in SolarEdge Technologies, acquiring 44,462 shares and owning approximately 0.08% of the company.
• Institutional ownership of SolarEdge Technologies is significant, with institutional investors holding 95.10% of the company's stock, demonstrating strong support from major financial entities.
• Despite a challenging market, SolarEdge's quarterly revenue rose 9.0% year-over-year to $289.43 million, although it reported an EPS of ($0.81), meeting consensus estimates.

Global Alpha Capital Management Ltd. purchased a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 44,462 shares of the semiconductor company's stock, valued at approximately $719,000. Global Alpha Capital Management Ltd. owned about 0.08% of SolarEdge Technologies at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Deutsche Bank AG increased its position in shares of SolarEdge Technologies by 0.5% during the 1st quarter. Deutsche Bank AG now owns 148,734 shares of the semiconductor company's stock worth $2,407,000 after purchasing an additional 766 shares in the last quarter. Fifth Third Bancorp increased its holdings in SolarEdge Technologies by 93.7% during the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 790 shares in the last quarter. US Bancorp DE boosted its stake in SolarEdge Technologies by 25.2% in the first quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company's stock worth $74,000 after purchasing an additional 918 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of SolarEdge Technologies by 1.5% during the first quarter. New York State Teachers Retirement System now owns 66,436 shares of the semiconductor company's stock worth $1,075,000 after purchasing an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in SolarEdge Technologies by 32.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,851 shares of the semiconductor company's stock worth $127,000 after buying an additional 1,921 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company's stock.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG traded down $1.24 during mid-day trading on Thursday, hitting $25.22. The stock had a trading volume of 2,117,346 shares, compared to its average volume of 4,810,687. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $32.45. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.42 and a current ratio of 1.94. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -0.84 and a beta of 1.56. The company's 50 day simple moving average is $23.75 and its 200 day simple moving average is $18.41.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its earnings results on Thursday, August 7th. The semiconductor company reported ($0.81) EPS for the quarter, hitting the consensus estimate of ($0.81). SolarEdge Technologies had a negative return on equity of 191.53% and a negative net margin of 177.64%. The company had revenue of $289.43 million during the quarter, compared to the consensus estimate of $270.03 million. During the same period in the previous year, the company posted ($1.79) EPS. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. TD Cowen raised their price target on shares of SolarEdge Technologies from $18.00 to $20.00 and gave the company a "hold" rating in a report on Friday, August 8th. Jefferies Financial Group lifted their price target on shares of SolarEdge Technologies from $10.00 to $18.00 and gave the stock an "underperform" rating in a research report on Monday, July 14th. Mizuho increased their price target on SolarEdge Technologies from $18.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Guggenheim reiterated a "sell" rating and issued a $5.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $27.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday, July 9th. Ten equities research analysts have rated the stock with a sell rating and nineteen have issued a hold rating to the company's stock. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of "Hold" and an average price target of $17.70.

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.