Harel Insurance Investments & Financial Services Ltd. Trims Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Harel Insurance Investments & Financial Services Ltd. lessened its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 20.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 806,510 shares of the semiconductor company's stock after selling 205,250 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned approximately 1.37% of SolarEdge Technologies worth $13,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in SolarEdge Technologies by 93.7% in the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 790 shares during the period. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies in the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp increased its position in SolarEdge Technologies by 401.2% in the 4th quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock valued at $33,000 after acquiring an additional 1,954 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in SolarEdge Technologies in the 4th quarter valued at approximately $133,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in SolarEdge Technologies in the 4th quarter valued at approximately $145,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded down $1.11 during trading hours on Monday, reaching $26.43. 6,121,008 shares of the company were exchanged, compared to its average volume of 4,783,662. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $32.11. The business's 50 day simple moving average is $18.64 and its 200-day simple moving average is $16.21. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.56 billion, a P/E ratio of -0.88 and a beta of 1.62.

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

Analyst Ratings Changes

Several equities analysts have issued reports on SEDG shares. KeyCorp restated an "underweight" rating and issued a $16.00 price target on shares of SolarEdge Technologies in a research report on Tuesday, June 17th. JPMorgan Chase & Co. decreased their price objective on shares of SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. UBS Group increased their price objective on shares of SolarEdge Technologies from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Barclays increased their price objective on shares of SolarEdge Technologies from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. Finally, Northland Securities upgraded shares of SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price objective for the company in a research report on Friday, May 23rd. Twelve investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $16.12.

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.