SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB reduced its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,525 shares of the semiconductor company’s stock after selling 2,410 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in SolarEdge Technologies were worth $620,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Swedbank AB acquired a new position in SolarEdge Technologies in the first quarter valued at about $261,312,000. Vanguard Group Inc. raised its position in SolarEdge Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after purchasing an additional 62,942 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in SolarEdge Technologies by 0.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock valued at $25,531,000 after purchasing an additional 2,795 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in SolarEdge Technologies by 2.0% in the first quarter. UniSuper Management Pty Ltd now owns 549,163 shares of the semiconductor company’s stock valued at $38,980,000 after purchasing an additional 10,866 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its position in SolarEdge Technologies by 33.1% in the second quarter. Meitav Investment House Ltd. now owns 531,044 shares of the semiconductor company’s stock valued at $13,412,000 after buying an additional 132,068 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of brokerages have issued reports on SEDG. Jefferies Financial Group lowered shares of SolarEdge Technologies from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $27.00 to $17.00 in a research note on Tuesday , September 17. Mizuho cut their price target on shares of SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Canaccord Genuity Group cut their price target on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday, June 25th. Bank of America cut their price target on shares of SolarEdge Technologies from $31.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, TD Cowen cut their price target on shares of SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th . Five analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $49.35, based on data from MarketBeat.

See our latest analysis of SEDG

SolarEdge Technologies price performance

Shares of SEDG opened at $20.64 on Tuesday. The company has a market cap of $1.18 billion, a P/E ratio of -4.44 and a beta of 1.56. SolarEdge Technologies, Inc. has a 12-month low of $17.12 and a 12-month high of $138.16. The company has a 50-day simple moving average of $24.01 and a 200-day simple moving average of $41.79. The company has a current ratio of 5.10, a quick ratio of 2.45, and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The firm had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. SolarEdge Technologies’ revenue was down 73.2% compared to the same quarter last year. In the same period last year, the company posted earnings per share of $2.06. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. it will post -8.67 EPS for the current year.

SolarEdge Technologies Profile

(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, the rest of Europe and international plan. It operates in two segments, Solar and Energy Storage.

Further reading

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