Vontobel Holding Ltd. Cuts Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Vontobel Holding Ltd. lessened its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 27.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,195 shares of the semiconductor company's stock after selling 21,363 shares during the quarter. Vontobel Holding Ltd. owned about 0.10% of SolarEdge Technologies worth $925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SEDG. Private Advisor Group LLC acquired a new position in SolarEdge Technologies during the 4th quarter valued at about $161,000. Jones Financial Companies Lllp grew its stake in shares of SolarEdge Technologies by 401.2% during the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 1,954 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of SolarEdge Technologies by 38.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,928 shares of the semiconductor company's stock valued at $7,085,000 after acquiring an additional 144,733 shares in the last quarter. Counterpoint Mutual Funds LLC increased its holdings in shares of SolarEdge Technologies by 159.8% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 58,832 shares of the semiconductor company's stock valued at $800,000 after acquiring an additional 36,187 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of SolarEdge Technologies in the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 95.10% of the company's stock.

Analysts Set New Price Targets

SEDG has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 15th. Northland Capmk raised SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 23rd. Morgan Stanley reissued an "underweight" rating and issued a $10.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. KeyCorp reissued an "underweight" rating and issued a $16.00 price target on shares of SolarEdge Technologies in a report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Twelve research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, SolarEdge Technologies presently has an average rating of "Hold" and an average price target of $16.12.

SolarEdge Technologies Trading Down 4.0%

Shares of NASDAQ SEDG traded down $1.11 during trading on Monday, hitting $26.43. 6,121,008 shares of the company were exchanged, compared to its average volume of 4,783,662. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.04. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $32.11. The company has a fifty day moving average price of $18.37 and a 200-day moving average price of $16.12. The firm has a market capitalization of $1.56 billion, a PE ratio of -0.88 and a beta of 1.62.

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

About SolarEdge Technologies

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.