SolarEdge Technologies, Inc. (NASDAQ:SEDG) Position Lowered by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. trimmed its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 20.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 806,510 shares of the semiconductor company’s stock after selling 205,250 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned 1.37% of SolarEdge Technologies worth $13,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of SolarEdge Technologies by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 284,729 shares of the semiconductor company’s stock worth $4,607,000 after acquiring an additional 6,897 shares during the period. New York State Teachers Retirement System increased its stake in shares of SolarEdge Technologies by 1.5% in the first quarter. New York State Teachers Retirement System now owns 66,436 shares of the semiconductor company’s stock valued at $1,075,000 after purchasing an additional 1,000 shares during the period. Fifth Third Bancorp raised its holdings in shares of SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 790 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of SolarEdge Technologies by 16.3% during the first quarter. SG Americas Securities LLC now owns 160,189 shares of the semiconductor company’s stock worth $2,592,000 after buying an additional 22,453 shares during the period. Finally, GAMMA Investing LLC grew its holdings in SolarEdge Technologies by 71.9% in the 1st quarter. GAMMA Investing LLC now owns 9,047 shares of the semiconductor company’s stock worth $146,000 after buying an additional 3,783 shares in the last quarter. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Trading Up 16.3%

SolarEdge Technologies stock opened at $27.45 on Friday. SolarEdge Technologies, Inc. has a 52 week low of $10.24 and a 52 week high of $32.11. The firm has a market capitalization of $1.62 billion, a PE ratio of -0.91 and a beta of 1.62. The business’s 50-day simple moving average is $18.07 and its 200-day simple moving average is $16.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.04.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 182.81% and a negative return on equity of 127.53%. The business had revenue of $219.48 million for the quarter, compared to analysts’ expectations of $205.39 million. During the same period in the prior year, the firm earned ($1.90) earnings per share. SolarEdge Technologies’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts forecast that SolarEdge Technologies, Inc. will post -4.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SEDG. KeyCorp reaffirmed an “underweight” rating and issued a $16.00 price target on shares of SolarEdge Technologies in a research note on Tuesday, June 17th. Susquehanna cut their target price on SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Morgan Stanley reiterated an “underweight” rating and set a $10.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Jefferies Financial Group cut their price objective on SolarEdge Technologies from $12.00 to $9.00 and set an “underperform” rating for the company in a report on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their target price on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Twelve equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies presently has a consensus rating of “Hold” and an average target price of $16.12.

About SolarEdge Technologies

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.