Meitav Investment House Ltd. lessened its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 413,966 shares of the semiconductor company's stock after selling 51,888 shares during the quarter. Meitav Investment House Ltd. owned 0.73% of SolarEdge Technologies worth $38,742,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SEDG. NBC Securities Inc. acquired a new stake in SolarEdge Technologies during the third quarter valued at approximately $25,000. Quarry LP bought a new position in shares of SolarEdge Technologies in the 1st quarter worth about $27,000. Harbour Investments Inc. boosted its holdings in shares of SolarEdge Technologies by 102.0% in the 4th quarter. Harbour Investments Inc. now owns 99 shares of the semiconductor company's stock valued at $28,000 after buying an additional 50 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of SolarEdge Technologies during the 1st quarter valued at about $29,000. Finally, Hollencrest Capital Management acquired a new stake in SolarEdge Technologies during the first quarter worth about $30,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.
SolarEdge Technologies Stock Performance
Shares of SEDG stock traded down $0.44 during trading on Thursday, reaching $70.26. The company had a trading volume of 1,259,237 shares, compared to its average volume of 2,427,137. The firm's 50 day simple moving average is $70.84 and its two-hundred day simple moving average is $82.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. SolarEdge Technologies, Inc. has a one year low of $60.44 and a one year high of $322.19. The company has a market capitalization of $4.01 billion, a PE ratio of 156.13 and a beta of 1.51.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts' consensus estimates of ($2.01) by $0.60. The business had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. Sell-side analysts forecast that SolarEdge Technologies, Inc. will post -3.94 earnings per share for the current year.
Wall Street Analyst Weigh In
SEDG has been the topic of several analyst reports. Barclays reaffirmed an "underweight" rating and issued a $50.00 target price (down from $74.00) on shares of SolarEdge Technologies in a research report on Wednesday, January 17th. Scotiabank dropped their target price on SolarEdge Technologies from $93.00 to $90.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 21st. Wells Fargo & Company decreased their price target on SolarEdge Technologies from $91.00 to $81.00 and set an "equal weight" rating for the company in a research note on Thursday, February 22nd. Canaccord Genuity Group reissued a "hold" rating and issued a $75.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Finally, Piper Sandler decreased their target price on SolarEdge Technologies from $105.00 to $77.00 and set a "neutral" rating for the company in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $99.84.
Get Our Latest Stock Report on SEDG
Insiders Place Their Bets
In other news, Director More Avery acquired 7,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were acquired at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.17% of the company's stock.
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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