UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 6.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 241,346 shares of the semiconductor company's stock after acquiring an additional 15,549 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.42% of SolarEdge Technologies worth $3,282,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of SolarEdge Technologies by 14.9% during 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 acquiring an additional 641,915 shares in the last quarter. Invesco Ltd. grew its position in SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company's stock valued at $33,254,000 after purchasing an additional 116,809 shares during the period. Point72 Asset Management L.P. acquired a new stake in SolarEdge Technologies in the 4th quarter valued at $17,909,000. Legal & General Group Plc increased its stake in SolarEdge Technologies by 67.6% during the 4th quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock valued at $17,262,000 after purchasing an additional 512,035 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in SolarEdge Technologies by 1.3% during the fourth quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company's stock worth $17,060,000 after buying an additional 16,258 shares during the last quarter. 95.10% of the stock is owned by institutional investors.
SolarEdge Technologies Stock Performance
SolarEdge Technologies stock traded up $0.45 during trading on Friday, hitting $18.19. The stock had a trading volume of 2,051,940 shares, compared to its average volume of 4,612,393. The company has a quick ratio of 1.46, a current ratio of 1.95 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average is $15.42 and its two-hundred day moving average is $15.09. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $49.57. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -0.58 and a beta of 1.50.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 95.05% and a negative net margin of 192.13%. The company had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. During the same quarter in the prior year, the company earned ($1.90) EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, analysts predict that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Susquehanna cut their price target on SolarEdge Technologies from $17.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays boosted their price objective on SolarEdge Technologies from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Wednesday, April 16th. Canaccord Genuity Group raised their target price on SolarEdge Technologies from $14.00 to $16.50 and gave the company a "hold" rating in a report on Wednesday, May 7th. Finally, Guggenheim reaffirmed a "sell" rating and set a $5.00 target price on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $16.84.
Check Out Our Latest Stock Report on SolarEdge Technologies
SolarEdge Technologies Profile
(
Free Report)
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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