Vontobel Holding Ltd. lessened its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 27.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,195 shares of the semiconductor company's stock after selling 21,363 shares during the period. Vontobel Holding Ltd. owned 0.10% of SolarEdge Technologies worth $925,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of SolarEdge Technologies by 93.7% in the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company's stock worth $26,000 after buying an additional 790 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of SolarEdge Technologies in the fourth quarter worth $27,000. Jones Financial Companies Lllp raised its position in shares of SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company's stock worth $33,000 after buying an additional 1,954 shares in the last quarter. GAMMA Investing LLC raised its position in shares of SolarEdge Technologies by 71.9% in the first quarter. GAMMA Investing LLC now owns 9,047 shares of the semiconductor company's stock worth $146,000 after buying an additional 3,783 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of SolarEdge Technologies in the fourth quarter worth $133,000. Hedge funds and other institutional investors own 95.10% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on SEDG shares. Glj Research downgraded SolarEdge Technologies from a "hold" rating to a "strong sell" rating and set a $6.90 price target on the stock. in a research report on Tuesday, June 17th. The Goldman Sachs Group restated a "neutral" rating and set a $27.00 price target on shares of SolarEdge Technologies in a research report on Wednesday. Northland Capmk upgraded SolarEdge Technologies from a "strong sell" rating to a "hold" rating in a research report on Friday, May 23rd. KeyCorp upgraded SolarEdge Technologies from an "underweight" rating to a "sector weight" rating in a research report on Tuesday. Finally, Guggenheim restated a "sell" rating and set a $5.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, SolarEdge Technologies currently has a consensus rating of "Hold" and a consensus target price of $15.96.
Get Our Latest Stock Analysis on SolarEdge Technologies
SolarEdge Technologies Trading Up 3.6%
NASDAQ:SEDG traded up $0.94 during mid-day trading on Wednesday, reaching $27.09. 4,487,346 shares of the company's stock traded hands, compared to its average volume of 4,760,974. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $32.11. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -0.90 and a beta of 1.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.04 and a quick ratio of 1.39. The company has a 50 day moving average price of $19.21 and a 200-day moving average price of $16.35.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The company had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. During the same quarter in the previous year, the business earned ($1.90) EPS. SolarEdge Technologies's revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts predict that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.
About SolarEdge Technologies
(
Free Report)
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.
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