Sumitomo Mitsui Trust Holdings Inc. Has $7.29 Million Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 60.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,917 shares of the semiconductor company’s stock after selling 119,258 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.14% of SolarEdge Technologies worth $7,293,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of SolarEdge Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after purchasing an additional 92,230 shares during the period. Baillie Gifford & Co. increased its holdings in SolarEdge Technologies by 89.3% in the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after buying an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after buying an additional 778,034 shares during the last quarter. Impax Asset Management Group plc increased its holdings in SolarEdge Technologies by 1.6% in the fourth quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after buying an additional 14,878 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in SolarEdge Technologies by 15.3% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 895,622 shares of the semiconductor company’s stock worth $116,022,000 after buying an additional 118,647 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Insiders Place Their Bets

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were purchased at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.17% of the company’s stock.

SolarEdge Technologies Stock Up 4.1 %

SEDG opened at $56.77 on Wednesday. SolarEdge Technologies, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $321.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. The firm’s fifty day moving average price is $68.43 and its two-hundred day moving average price is $78.27. The company has a market capitalization of $3.24 billion, a P/E ratio of 126.16 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million. On average, analysts anticipate that SolarEdge Technologies, Inc. will post -4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SEDG. The Goldman Sachs Group dropped their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating on the stock in a report on Wednesday, January 24th. Wells Fargo & Company dropped their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Piper Sandler dropped their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Citigroup dropped their price objective on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Finally, Mizuho lowered their price target on SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and a consensus target price of $98.38.

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.