Meitav Investment House Ltd. boosted its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) by 541.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,017,551 shares of the semiconductor company’s stock after purchasing an additional 858,954 shares during the quarter. Meitav Investment House Ltd. owned about 1.67% of SolarEdge Technologies worth $51,946,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in SEDG. State of Wyoming acquired a new stake in shares of SolarEdge Technologies during the 4th quarter worth approximately $27,000. Saranac Partners Ltd bought a new position in SolarEdge Technologies during the third quarter worth $28,000. Rakuten Securities Inc. grew its holdings in SolarEdge Technologies by 82.1% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 432 shares during the period. Kestra Advisory Services LLC acquired a new stake in SolarEdge Technologies in the fourth quarter worth $31,000. Finally, Canada Pension Plan Investment Board bought a new stake in SolarEdge Technologies in the second quarter valued at $35,000. 95.10% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the stock. Bank of America raised shares of SolarEdge Technologies from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $17.00 to $40.00 in a research report on Tuesday, March 10th. Citigroup decreased their target price on SolarEdge Technologies from $30.00 to $27.00 and set a “sell” rating for the company in a research report on Thursday, May 7th. TD Cowen upped their price target on SolarEdge Technologies from $43.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Glj Research reiterated a “sell” rating on shares of SolarEdge Technologies in a report on Thursday, June 11th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $31.00 price objective (down from $36.00) on shares of SolarEdge Technologies in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $35.67.
SolarEdge Technologies Stock Down 9.0%
NASDAQ SEDG traded down $5.12 during trading hours on Tuesday, hitting $51.79. The company’s stock had a trading volume of 844,131 shares, compared to its average volume of 3,573,706. The company has a market capitalization of $3.15 billion, a PE ratio of -8.46 and a beta of 1.45. The company has a current ratio of 2.02, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. SolarEdge Technologies, Inc. has a 52 week low of $23.01 and a 52 week high of $81.25. The company’s 50-day simple moving average is $56.27 and its two-hundred day simple moving average is $44.15.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.20). SolarEdge Technologies had a negative return on equity of 38.66% and a negative net margin of 28.56%.The company had revenue of $309.90 million for the quarter, compared to the consensus estimate of $305.49 million. During the same period in the prior year, the firm posted ($1.14) earnings per share. The business’s revenue for the quarter was up 41.5% on a year-over-year basis. Research analysts anticipate that SolarEdge Technologies, Inc. will post -1.12 EPS for the current fiscal year.
Insider Transactions at SolarEdge Technologies
In related news, Chairman More Avery sold 2,566 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $38.76, for a total value of $99,458.16. Following the completion of the sale, the chairman directly owned 295,379 shares of the company’s stock, valued at approximately $11,448,890.04. This represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.04% of the company’s stock.
About SolarEdge Technologies
SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.
In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.
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