Assenagon Asset Management S.A. Sells 670,915 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Assenagon Asset Management S.A. lowered its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 76.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 203,198 shares of the semiconductor company's stock after selling 670,915 shares during the period. Assenagon Asset Management S.A. owned 0.35% of SolarEdge Technologies worth $3,288,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of SolarEdge Technologies by 16.3% during the 1st quarter. SG Americas Securities LLC now owns 160,189 shares of the semiconductor company's stock valued at $2,592,000 after purchasing an additional 22,453 shares in the last quarter. GAMMA Investing LLC lifted its stake in SolarEdge Technologies by 71.9% in the first quarter. GAMMA Investing LLC now owns 9,047 shares of the semiconductor company's stock valued at $146,000 after buying an additional 3,783 shares during the period. PharVision Advisers LLC bought a new position in shares of SolarEdge Technologies during the 4th quarter worth approximately $256,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of SolarEdge Technologies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,346 shares of the semiconductor company's stock worth $3,282,000 after buying an additional 15,549 shares during the period. Finally, Voloridge Investment Management LLC increased its stake in shares of SolarEdge Technologies by 1.4% in the 4th quarter. Voloridge Investment Management LLC now owns 866,206 shares of the semiconductor company's stock valued at $11,780,000 after acquiring an additional 11,926 shares in the last quarter. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Stock Performance

SEDG traded up $1.02 during trading on Thursday, hitting $16.98. 13,024,263 shares of the company traded hands, compared to its average volume of 4,828,230. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $35.29. The stock's fifty day moving average is $16.40 and its 200 day moving average is $15.52. 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 firm has a market cap of $1.00 billion, a P/E ratio of -0.56 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. The firm had revenue of $219.48 million during the quarter, compared to the consensus estimate of $205.39 million. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The company's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.90) EPS. As a group, equities analysts predict that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SEDG shares. Morgan Stanley reissued an "underweight" rating and set a $10.00 target price on shares of SolarEdge Technologies in a research note on Wednesday, April 23rd. Mizuho increased their price objective on shares of SolarEdge Technologies from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, June 2nd. Roth Mkm raised their target price on SolarEdge Technologies from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, February 21st. BMO Capital Markets lowered SolarEdge Technologies from a "market perform" rating to an "underperform" rating and boosted their target price for the company from $13.00 to $15.00 in a research report on Thursday, February 20th. Finally, KeyCorp reiterated an "underweight" rating and issued a $16.00 price target on shares of SolarEdge Technologies in a report on Tuesday. Twelve investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $16.96.

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.