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

Assenagon Asset Management S.A. trimmed its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 81.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,839 shares of the semiconductor company's stock after selling 399,924 shares during the quarter. Assenagon Asset Management S.A. owned 0.15% of SolarEdge Technologies worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SEDG. Allworth Financial LP acquired a new stake in SolarEdge Technologies in the second quarter worth about $31,000. Nykredit A S purchased a new position in shares of SolarEdge Technologies in the 2nd quarter valued at approximately $36,000. State of Wyoming boosted its stake in SolarEdge Technologies by 32.9% in the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company's stock worth $63,000 after purchasing an additional 306 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in SolarEdge Technologies in the 2nd quarter worth approximately $72,000. Finally, Farther Finance Advisors LLC boosted its stake in SolarEdge Technologies by 18.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company's stock worth $97,000 after purchasing an additional 479 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings raised shares of SolarEdge Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, October 2nd. Royal Bank Of Canada raised their price target on shares of SolarEdge Technologies from $24.00 to $30.00 and gave the stock a "sector perform" rating in a report on Friday, September 11th. UBS Group upgraded shares of SolarEdge Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $36.00 to $42.00 in a research note on Wednesday, August 26th. Wall Street Zen raised shares of SolarEdge Technologies from a "sell" rating to a "hold" rating in a report on Sunday, October 11th. Finally, The Goldman Sachs Group dropped their price objective on shares of SolarEdge Technologies from $34.00 to $30.00 and set a "sell" rating on the stock in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $38.53.

SolarEdge Technologies Stock Performance

SEDG opened at $33.19 on Thursday. SolarEdge Technologies, Inc. has a 12-month low of $28.21 and a 12-month high of $81.25. The company has a current ratio of 2.03, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $2.04 billion, a PE ratio of -7.38 and a beta of 1.44. The firm has a 50 day moving average of $32.92 and a two-hundred day moving average of $44.43.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The business had revenue of $346.20 million during the quarter, compared to analysts' expectations of $341.15 million. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The business's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.81) EPS. On average, analysts anticipate that SolarEdge Technologies, Inc. will post -1.20 EPS for the current year.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc NASDAQ: SEDG develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.

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