Baillie Gifford & Co. Trims Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Baillie Gifford & Co. decreased its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 93.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,977 shares of the semiconductor company’s stock after selling 1,611,901 shares during the period. Baillie Gifford & Co.’s holdings in SolarEdge Technologies were worth $1,455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SEDG. Y.D. More Investments Ltd increased its stake in SolarEdge Technologies by 251.8% in the fourth quarter. Y.D. More Investments Ltd now owns 3,870 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 2,770 shares during the period. R Squared Ltd purchased a new stake in SolarEdge Technologies in the fourth quarter worth $61,000. KBC Group NV increased its stake in SolarEdge Technologies by 95.8% in the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the period. GAMMA Investing LLC increased its stake in SolarEdge Technologies by 655.2% in the fourth quarter. GAMMA Investing LLC now owns 5,264 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 4,567 shares during the period. Finally, US Bancorp DE increased its stake in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 4,834 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SEDG. Morgan Stanley reiterated an “underweight” rating and issued a $9.00 target price (down previously from $23.00) on shares of SolarEdge Technologies in a research note on Friday, November 15th. JPMorgan Chase & Co. cut their price target on SolarEdge Technologies from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler lowered SolarEdge Technologies from a “neutral” rating to an “underweight” rating and cut their price target for the company from $17.00 to $9.00 in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price target on SolarEdge Technologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, BMO Capital Markets cut their price target on SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research note on Thursday, November 7th. Eight investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.84.

SolarEdge Technologies Price Performance

Shares of SEDG stock opened at $16.93 on Wednesday. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $84.69. The firm has a market capitalization of $981.09 million, a price-to-earnings ratio of -0.58 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. The stock’s 50-day simple moving average is $14.30 and its 200-day simple moving average is $17.27.

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.