Legal & General Group Plc Sells 437,889 Shares of SolarEdge Technologies, Inc. $SEDG

Key Points

• Legal & General Group Plc cut its SolarEdge Technologies stake by 33.7% in the fourth quarter, selling 437,889 shares and leaving it with 863,334 shares worth about $24.9 million.
• SolarEdge remains heavily owned by institutions, with hedge funds and other institutional investors holding 95.1% of the stock despite mixed trading activity from several firms.
• Analyst sentiment is cautious: ratings currently lean toward “Reduce,” with one Buy, 15 Holds, and seven Sells, while the consensus price target sits at $33.25.

Legal & General Group Plc reduced its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 33.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 863,334 shares of the semiconductor company's stock after selling 437,889 shares during the period. Legal & General Group Plc owned approximately 1.44% of SolarEdge Technologies worth $24,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Leonteq Securities AG bought a new stake in shares of SolarEdge Technologies in the 4th quarter worth about $708,000. Handelsbanken Fonder AB raised its holdings in shares of SolarEdge Technologies by 28.6% in the fourth quarter. Handelsbanken Fonder AB now owns 846,148 shares of the semiconductor company's stock worth $24,411,000 after buying an additional 188,086 shares during the period. Resona Asset Management Co. Ltd. lifted its stake in shares of SolarEdge Technologies by 19.4% during the 4th quarter. Resona Asset Management Co. Ltd. now owns 4,386 shares of the semiconductor company's stock worth $128,000 after acquiring an additional 712 shares during the last quarter. Abacus Wealth Partners LLC purchased a new position in SolarEdge Technologies during the 4th quarter valued at $441,000. Finally, Phoenix Financial Ltd. increased its stake in SolarEdge Technologies by 15.3% in the 4th quarter. Phoenix Financial Ltd. now owns 8,428 shares of the semiconductor company's stock worth $242,000 after buying an additional 1,120 shares during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SEDG shares. Deutsche Bank Aktiengesellschaft lowered their price target on SolarEdge Technologies from $42.00 to $39.00 and set a "hold" rating for the company in a report on Thursday, May 7th. Wells Fargo & Company increased their target price on shares of SolarEdge Technologies from $33.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 20th. Jefferies Financial Group raised shares of SolarEdge Technologies from an "underperform" rating to a "hold" rating and upped their price target for the stock from $30.00 to $49.00 in a research report on Friday, March 20th. TD Cowen lifted their price objective on shares of SolarEdge Technologies from $43.00 to $85.00 and gave the company a "buy" rating in a report on Friday. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $31.00 target price (down from $36.00) on shares of SolarEdge Technologies in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of "Reduce" and a consensus target price of $33.25.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery sold 2,566 shares of SolarEdge Technologies stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $38.76, for a total transaction of $99,458.16. Following the completion of the transaction, the chairman directly owned 295,379 shares of the company's stock, valued at $11,448,890.04. The trade was a 0.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.04% of the stock is owned by insiders.

SolarEdge Technologies Price Performance

Shares of SEDG stock opened at $76.35 on Monday. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of -12.46 and a beta of 1.42. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.36 and a current ratio of 2.02. The stock's 50-day simple moving average is $49.02 and its 200-day simple moving average is $39.46. SolarEdge Technologies, Inc. has a fifty-two week low of $13.73 and a fifty-two week high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its earnings results on Wednesday, May 6th. The semiconductor company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.20). The firm had revenue of $309.90 million during the quarter, compared to analysts' expectations of $305.49 million. SolarEdge Technologies had a negative return on equity of 38.66% and a negative net margin of 28.56%.The business's revenue was up 41.5% on a year-over-year basis. During the same quarter last year, the business earned ($1.14) EPS. As a group, equities analysts forecast that SolarEdge Technologies, Inc. will post -1.12 earnings per share for the current fiscal year.

SolarEdge Technologies Company Profile

SolarEdge Technologies NASDAQ: SEDG is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company's core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge's technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.

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