SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 86.5% during the third quarter, HoldingsChannel reports. The firm owned 15,307 shares of the semiconductor company’s stock after buying an additional 7,099 shares during the period. Advisors Asset Management Inc.’s holdings in SolarEdge Technologies were worth $351,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SEDG. Vanguard Group Inc. increased 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 acquiring an additional 62,942 shares during the period. Quarry LP acquired a new position in shares of SolarEdge Technologies in the second quarter valued at approximately $36,627,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of SolarEdge Technologies by 0.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after purchasing an additional 2,795 shares during the last quarter. M&G PLC lifted its holdings in shares of SolarEdge Technologies by 4.2% during the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after purchasing an additional 38,001 shares during the period. Finally, Meitav Investment House Ltd. grew its position in SolarEdge Technologies by 9.6% in the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after buying an additional 51,065 shares during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $14.86 on Friday. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $103.15. The company’s 50 day simple moving average is $16.95 and its 200 day simple moving average is $26.59. The company has a market capitalization of $861.14 million, a price-to-earnings ratio of -0.51 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The business had revenue of $260.90 million for the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. SolarEdge Technologies’s revenue for the quarter was down 64.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.03) EPS. On average, sell-side analysts predict that SolarEdge Technologies, Inc. will post -19.05 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group reduced their target price on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Roth Mkm lowered their price objective on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Mizuho downgraded SolarEdge Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $35.00 to $11.00 in a research note on Thursday, November 7th. Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and decreased their price target for the company from $27.00 to $17.00 in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group cut their price objective on SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, November 7th. Nine analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.79.

Insider Buying and Selling at SolarEdge Technologies

In related news, Chairman More Avery acquired 156,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. The trade was a 176.32 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.67% of the stock is owned by company insiders.

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.