The Manufacturers Life Insurance Company acquired a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,746 shares of the semiconductor company’s stock, valued at approximately $1,329,000.
Several other hedge funds also recently made changes to their positions in SEDG. Clal Insurance Enterprises Holdings Ltd bought a new stake in SolarEdge Technologies during the 2nd quarter valued at $55,514,000. Elevation Point Wealth Partners LLC bought a new position in shares of SolarEdge Technologies during the second quarter valued at about $216,000. De Lisle Partners LLP bought a new stake in shares of SolarEdge Technologies in the second quarter worth about $3,743,000. Allworth Financial LP bought a new position in SolarEdge Technologies during the 2nd quarter valued at approximately $31,000. Finally, Advisors Preferred LLC bought a new stake in shares of SolarEdge Technologies in the 2nd quarter worth approximately $576,000. 95.10% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SEDG has been the subject of a number of recent analyst reports. UBS Group upgraded SolarEdge Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $42.00 in a report on Wednesday, August 26th. Royal Bank Of Canada reduced their price objective on shares of SolarEdge Technologies from $30.00 to $24.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 6th. TD Cowen decreased their price objective on shares of SolarEdge Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a report on Monday, July 20th. Barclays dropped their target price on shares of SolarEdge Technologies from $53.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, August 6th. Finally, Susquehanna reduced their price target on shares of SolarEdge Technologies from $56.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $38.36.
SolarEdge Technologies Price Performance
SEDG opened at $34.20 on Friday. The stock has a fifty day simple moving average of $41.77 and a two-hundred day simple moving average of $46.34. The company has a current ratio of 2.03, a quick ratio of 1.38 and a debt-to-equity ratio of 0.85. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -7.60 and a beta of 1.44. SolarEdge Technologies, Inc. has a 12-month low of $28.21 and a 12-month high of $81.25.
SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last announced its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The firm had revenue of $346.20 million for the quarter, compared to analysts’ expectations of $341.15 million. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The company’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.81) EPS. Research analysts predict that SolarEdge Technologies, Inc. will post -1.23 earnings per share for the current fiscal year.
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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