173,815 Shares in SolarEdge Technologies, Inc. (NASDAQ:SEDG) Acquired by Quantbot Technologies LP

Quantbot Technologies LP bought a new position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 173,815 shares of the semiconductor company’s stock, valued at approximately $4,391,000. Quantbot Technologies LP owned 0.30% of SolarEdge Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB bought a new position in SolarEdge Technologies in the 1st quarter valued at $261,312,000. Vanguard Group Inc. raised its position in SolarEdge Technologies by 2.8% in the 1st 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 during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in SolarEdge Technologies by 0.3% in the 2nd 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. Franklin Resources Inc. raised its position in SolarEdge Technologies by 112.0% in the 4th quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock valued at $52,023,000 after purchasing an additional 293,588 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in SolarEdge Technologies by 2.0% in the 1st 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. Institutional investors own 95.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SEDG. Jefferies Financial Group began coverage on SolarEdge Technologies in a research report on Wednesday, September 4th. They issued a “hold” rating and a $27.00 price objective for the company. Roth Mkm dropped their target price on SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Scotiabank dropped their target price on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Canaccord Genuity Group dropped their target price on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research report on Tuesday, June 25th. Finally, Piper Sandler dropped their target price on SolarEdge Technologies from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.62.

SolarEdge Technologies Stock Up 11.4 %

SEDG stock opened at $21.95 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. The stock has a market capitalization of $1.26 billion, a P/E ratio of -4.72 and a beta of 1.56. The business has a 50-day moving average of $24.89 and a 200-day moving average of $43.81. SolarEdge Technologies, Inc. has a fifty-two week low of $17.12 and a fifty-two week high of $141.70.

SolarEdge Technologies (NASDAQ:SEDG) last posted 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). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The firm had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. During the same period in the prior year, the company earned $2.06 earnings per share. The firm’s quarterly revenue was down 73.2% on a year-over-year basis. On average, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -8.67 earnings per share for the current fiscal year.

SolarEdge Technologies Company 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.