SolarEdge Technologies, Inc. $SEDG Shares Sold by Comerica Bank

Key Points

• Comerica Bank has reduced its stake in SolarEdge Technologies by 40.3%, owning 19,822 shares worth approximately $321,000 by the end of the first quarter.
• Vanguard Group Inc. increased its holdings in SolarEdge Technologies by 4.4%, now owning over 3 million shares valued at nearly $49 million.
• Analysts have varying views on SolarEdge, with price targets ranging from $10.00 to $30.00, indicating a consensus average price target of $18.20, reflecting a generally cautious outlook.

Comerica Bank lessened its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 40.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,822 shares of the semiconductor company's stock after selling 13,371 shares during the quarter. Comerica Bank's holdings in SolarEdge Technologies were worth $321,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SEDG. Vanguard Group Inc. lifted its stake in shares of SolarEdge Technologies by 4.4% during the first quarter. Vanguard Group Inc. now owns 3,028,018 shares of the semiconductor company's stock valued at $48,993,000 after buying an additional 126,246 shares during the period. Point72 Asset Management L.P. purchased a new position in SolarEdge Technologies during the fourth quarter worth approximately $17,909,000. Two Sigma Investments LP raised its stake in shares of SolarEdge Technologies by 1.3% in the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company's stock valued at $17,060,000 after acquiring an additional 16,258 shares during the period. Two Sigma Advisers LP raised its stake in shares of SolarEdge Technologies by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,160,400 shares of the semiconductor company's stock valued at $15,781,000 after acquiring an additional 18,300 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in SolarEdge Technologies by 10,038.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,109,225 shares of the semiconductor company's stock worth $17,945,000 after acquiring an additional 1,098,284 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $23.00 price objective (up previously from $18.00) on shares of SolarEdge Technologies in a report on Tuesday, July 15th. Jefferies Financial Group boosted their price objective on shares of SolarEdge Technologies from $10.00 to $18.00 and gave the stock an "underperform" rating in a report on Monday, July 14th. UBS Group boosted their price objective on shares of SolarEdge Technologies from $20.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, August 19th. Mizuho boosted their target price on shares of SolarEdge Technologies from $18.00 to $29.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Barclays raised shares of SolarEdge Technologies from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $12.00 to $29.00 in a research report on Monday, July 14th. Seventeen analysts have rated the stock with a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat, SolarEdge Technologies currently has an average rating of "Reduce" and an average price target of $18.20.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG opened at $30.04 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.72. The firm has a 50-day simple moving average of $28.61 and a 200 day simple moving average of $20.71. The company has a market cap of $1.78 billion, a PE ratio of -1.00 and a beta of 1.50. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $35.77.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its earnings results on Thursday, August 7th. The semiconductor company reported ($0.81) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.81). The firm had revenue of $289.43 million during the quarter, compared to analyst estimates of $270.03 million. SolarEdge Technologies had a negative net margin of 177.64% and a negative return on equity of 191.53%. SolarEdge Technologies's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.79) EPS. SolarEdge Technologies has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 EPS for the current year.

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.

Want to see what other hedge funds are holding SEDG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.