SolarEdge Technologies, Inc. $SEDG Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its SolarEdge Technologies stake by 43.7% in the first quarter, selling 488,383 shares and ending with 630,054 shares valued at about $32.2 million.
• Analysts remain cautious on SEDG: the stock has a consensus rating of “Reduce” with a target price of $35.67, even after several firms raised their price targets.
• SolarEdge reported mixed quarterly results, missing EPS expectations with a loss of $0.43 per share while revenue came in slightly above estimates at $309.9 million, up 41.5% year over year.

Assenagon Asset Management S.A. lessened its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 43.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 630,054 shares of the semiconductor company's stock after selling 488,383 shares during the period. Assenagon Asset Management S.A. owned 1.04% of SolarEdge Technologies worth $32,164,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SEDG. Handelsbanken Fonder AB grew its holdings in shares of SolarEdge Technologies by 28.6% in the 4th quarter. Handelsbanken Fonder AB now owns 846,148 shares of the semiconductor company's stock worth $24,411,000 after acquiring an additional 188,086 shares during the last quarter. Vanguard Group Inc. raised its position in shares of SolarEdge Technologies by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 3,368,073 shares of the semiconductor company's stock worth $97,169,000 after purchasing an additional 175,582 shares during the period. Aquatic Capital Management LLC lifted its holdings in shares of SolarEdge Technologies by 1,282.8% during the third quarter. Aquatic Capital Management LLC now owns 125,473 shares of the semiconductor company's stock valued at $4,643,000 after purchasing an additional 116,399 shares during the last quarter. UBS Group AG lifted its holdings in shares of SolarEdge Technologies by 18.5% during the fourth quarter. UBS Group AG now owns 4,210,429 shares of the semiconductor company's stock valued at $121,471,000 after purchasing an additional 655,925 shares during the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at $2,547,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SEDG has been the topic of several recent analyst reports. Susquehanna boosted their target price on shares of SolarEdge Technologies from $37.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Weiss Ratings raised shares of SolarEdge Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday. The Goldman Sachs Group restated a "sell" rating and set a $31.00 target price (down from $36.00) on shares of SolarEdge Technologies in a report on Wednesday, April 15th. JPMorgan Chase & Co. upped their price target on SolarEdge Technologies from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, April 16th. Finally, Barclays increased their price target on SolarEdge Technologies from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating, fifteen have given a Hold rating and seven have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $35.67.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery sold 2,566 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $38.76, for a total transaction of $99,458.16. Following the sale, the chairman owned 295,379 shares of the company's stock, valued at approximately $11,448,890.04. This trade represents a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.04% of the stock is currently owned by corporate insiders.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $51.75 on Friday. SolarEdge Technologies, Inc. has a 52 week low of $19.09 and a 52 week high of $81.25. The firm has a market cap of $3.15 billion, a P/E ratio of -8.44 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 business's fifty day moving average is $54.59 and its two-hundred day moving average is $43.01.

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

SolarEdge Technologies 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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