Handelsbanken Fonder AB Cuts Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Handelsbanken Fonder AB cut its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 93.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,158 shares of the semiconductor company's stock after selling 158,225 shares during the quarter. Handelsbanken Fonder AB's holdings in SolarEdge Technologies were worth $1,044,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SEDG. Altshuler Shaham Ltd boosted its holdings in SolarEdge Technologies by 143.8% in the 3rd quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company's stock valued at $2,701,000 after purchasing an additional 12,302 shares during the period. International Assets Investment Management LLC boosted its holdings in SolarEdge Technologies by 20,293.3% in the 4th quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company's stock valued at $9,716,000 after purchasing an additional 103,293 shares during the period. Royal London Asset Management Ltd. boosted its holdings in SolarEdge Technologies by 5.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company's stock valued at $2,782,000 after purchasing an additional 1,101 shares during the period. Meitav Investment House Ltd. boosted its holdings in SolarEdge Technologies by 27.2% in the 3rd quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company's stock valued at $61,231,000 after purchasing an additional 99,681 shares during the period. Finally, Compagnie Lombard Odier SCmA boosted its holdings in SolarEdge Technologies by 250.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company's stock valued at $66,000 after purchasing an additional 500 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of SolarEdge Technologies from $91.00 to $81.00 and set an "equal weight" rating for the company in a report on Thursday, February 22nd. Barclays raised their price objective on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an "underweight" rating in a report on Tuesday, April 16th. B. Riley dropped their target price on shares of SolarEdge Technologies from $133.00 to $124.00 and set a "buy" rating for the company in a research report on Monday, April 22nd. Truist Financial dropped their target price on shares of SolarEdge Technologies from $80.00 to $75.00 and set a "hold" rating for the company in a research report on Thursday, February 22nd. Finally, Piper Sandler dropped their target price on shares of SolarEdge Technologies from $105.00 to $77.00 and set a "neutral" rating for the company in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $98.38.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the completion of the transaction, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.17% of the stock is currently owned by insiders.

SolarEdge Technologies Trading Up 3.1 %

SolarEdge Technologies stock traded up $1.81 during midday trading on Monday, hitting $60.01. 1,194,287 shares of the stock were exchanged, compared to its average volume of 2,376,528. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. SolarEdge Technologies, Inc. has a 52 week low of $53.59 and a 52 week high of $315.34. The company has a fifty day simple moving average of $66.79 and a two-hundred day simple moving average of $76.89. The stock has a market capitalization of $3.43 billion, a PE ratio of 129.33 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings results 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. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. Equities research analysts anticipate that SolarEdge Technologies, Inc. will post -4.62 EPS for the current fiscal year.

SolarEdge Technologies Profile

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.