Headlands Technologies LLC Has $114,000 Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Key Points

• Headlands Technologies LLC reduced its holdings in SolarEdge Technologies by 62.6%, now owning 7,053 shares worth $114,000 after selling 11,823 shares in the first quarter.
• Multiple institutional investors have increased their stakes in SolarEdge, with Fifth Third Bancorp boosting its ownership by 93.7% and Deutsche Bank AG increasing its stake by 0.5% during the same period.
• Analysts have mixed views on SolarEdge, with price targets ranging from $10.00 to $27.00 and a consensus rating of "Hold" with a target of $17.70.

Headlands Technologies LLC cut its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 62.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,053 shares of the semiconductor company's stock after selling 11,823 shares during the quarter. Headlands Technologies LLC's holdings in SolarEdge Technologies were worth $114,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Deutsche Bank AG boosted its stake in SolarEdge Technologies by 0.5% in the first quarter. Deutsche Bank AG now owns 148,734 shares of the semiconductor company's stock valued at $2,407,000 after buying an additional 766 shares in the last quarter. Fifth Third Bancorp boosted its stake in SolarEdge Technologies by 93.7% in the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after buying 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 valued at $74,000 after buying an additional 918 shares in the last quarter. New York State Teachers Retirement System boosted its stake 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 valued at $1,075,000 after purchasing an additional 1,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of SolarEdge Technologies by 32.4% during the first quarter. PNC Financial Services Group Inc. now owns 7,851 shares of the semiconductor company's stock valued at $127,000 after purchasing an additional 1,921 shares in the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Roth Capital lifted their price target on SolarEdge Technologies from $15.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Morgan Stanley reissued an "underweight" rating and set a $10.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. TD Cowen lifted their price target on SolarEdge Technologies from $18.00 to $20.00 and gave the company a "hold" rating in a research note on Friday. The Goldman Sachs Group reissued a "neutral" rating and set a $27.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, July 9th. Finally, Canaccord Genuity Group lifted their price target on SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a research note on Wednesday, May 7th. Ten analysts have rated the stock with a sell rating and nineteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of "Hold" and a consensus price target of $17.70.

SolarEdge Technologies Trading Down 0.2%

Shares of SEDG stock opened at $24.90 on Tuesday. The company has a market cap of $1.48 billion, a P/E ratio of -0.83 and a beta of 1.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.42 and a current ratio of 1.94. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $32.45. The stock has a 50 day simple moving average of $23.43 and a two-hundred day simple moving average of $18.31.

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

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.

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