M&G Plc Boosts Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

M&G Plc boosted its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 932,711 shares of the semiconductor company’s stock after acquiring an additional 38,001 shares during the quarter. M&G Plc owned 1.63% of SolarEdge Technologies worth $21,452,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SEDG. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies during the second quarter worth $28,000. EntryPoint Capital LLC purchased a new stake in SolarEdge Technologies during the 1st quarter worth about $64,000. First Pacific Financial raised its position in SolarEdge Technologies by 53.0% in the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 1,805 shares in the last quarter. US Bancorp DE boosted its stake in shares of SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after buying an additional 4,834 shares during the period. Finally, GFG Capital LLC acquired a new position in shares of SolarEdge Technologies during the third quarter worth about $229,000. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $14.88 on Friday. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average is $19.34 and its two-hundred day moving average is $31.18. SolarEdge Technologies, Inc. has a twelve month low of $12.38 and a twelve month high of $103.15. The firm has a market capitalization of $852.62 million, a PE ratio of -1.66 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The business had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. During the same period in the prior year, the company earned $2.06 EPS. The company’s revenue was down 73.2% on a year-over-year basis. Research analysts anticipate that SolarEdge Technologies, Inc. will post -8.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SEDG shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Bank of America downgraded shares of SolarEdge Technologies from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $21.00 to $14.00 in a research note on Thursday. Susquehanna cut their price target on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday. Scotiabank lowered their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Finally, DZ Bank lowered SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 target price on the stock. in a research report on Wednesday, July 17th. Nine research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.26.

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.