SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 27,700 shares of the semiconductor company’s stock after selling 1,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in SolarEdge Technologies were worth $635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Swedbank AB acquired a new position in shares of SolarEdge Technologies in the first quarter worth $261,312,000. Quarry LP acquired a new stake in shares of SolarEdge Technologies during the second quarter worth $36,627,000. Marshall Wace LLP increased its stake in shares of SolarEdge Technologies by 425.1% during the 2nd quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock valued at $14,044,000 after acquiring an additional 450,081 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of SolarEdge Technologies by 1,206.8% during the 1st quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company’s stock worth $17,080,000 after acquiring an additional 222,218 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in SolarEdge Technologies by 1,634.6% during the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock worth $4,911,000 after purchasing an additional 202,010 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Analysts Set New Price Targets

SEDG has been the subject of several research analyst reports. Piper Sandler dropped their price target on SolarEdge Technologies from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their price target on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 9th. Scotiabank dropped their price target on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley reduced their price target on shares of SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Seven investment analysts have rated the stock with a sell rating, twenty have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $29.88.

SolarEdge Technologies Trading Up 3.1 %

NASDAQ:SEDG opened at $18.87 on Wednesday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -2.10 and a beta of 1.59. SolarEdge Technologies, Inc. has a 1-year low of $14.82 and a 1-year high of $103.15. The business’s 50-day moving average price is $19.90 and its two-hundred day moving average price is $31.67. 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) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) 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’s quarterly revenue was down 73.2% on a year-over-year basis. During the same period last year, the firm earned $2.06 EPS. On average, equities analysts expect that SolarEdge Technologies, Inc. will post -8.85 earnings per share for the current 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.