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

Vontobel Holding Ltd. cut its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 27.2% during the 1st quarter, according to its most recent disclosure 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 filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SEDG. Point72 Asset Management L.P. bought a new position in SolarEdge Technologies during the 4th quarter valued at about $17,909,000. Ion Asset Management Ltd. purchased a new stake in SolarEdge Technologies in the fourth quarter worth about $12,005,000. Grantham Mayo Van Otterloo & Co. LLC increased its position in SolarEdge Technologies by 14.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company's stock worth $67,370,000 after buying an additional 641,915 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of SolarEdge Technologies by 67.6% in the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company's stock worth $17,262,000 after acquiring an additional 512,035 shares during the period. Finally, Sphera Funds Management LTD. bought a new position in shares of SolarEdge Technologies in the fourth quarter worth about $5,100,000. 95.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Northland Securities raised SolarEdge Technologies from an "under perform" rating to a "market perform" rating and set a $15.50 price target for the company in a research note on Friday, May 23rd. JPMorgan Chase & Co. reduced their price target on SolarEdge Technologies from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company reduced their price target on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Guggenheim restated a "sell" rating and set a $5.00 price objective on shares of SolarEdge Technologies in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group reduced their price objective on SolarEdge Technologies from $12.00 to $9.00 and set an "underperform" rating on the stock in a report on Tuesday, April 15th. Twelve 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's stock. According to data from MarketBeat.com, SolarEdge Technologies has an average rating of "Hold" and a consensus price target of $16.12.

SolarEdge Technologies Price Performance

NASDAQ:SEDG traded down $0.91 during trading hours on Monday, hitting $26.63. 2,344,514 shares of the stock were exchanged, compared to its average volume of 4,769,372. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $32.11. The firm's fifty day moving average price is $18.37 and its 200 day moving average price is $16.12. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.62. The company has a market cap of $1.57 billion, a P/E ratio of -0.88 and a beta of 1.62.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $205.39 million. During the same period in the previous year, the business earned ($1.90) EPS. SolarEdge Technologies's quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal 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.