Vanguard Group Inc. Sells 244,820 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Vanguard Group Inc. trimmed its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 9.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,284,454 shares of the semiconductor company’s stock after selling 244,820 shares during the period. Vanguard Group Inc. owned approximately 4.00% of SolarEdge Technologies worth $213,825,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in SolarEdge Technologies by 318.0% in the third quarter. Tower Research Capital LLC TRC now owns 8,168 shares of the semiconductor company’s stock worth $1,058,000 after purchasing an additional 6,214 shares during the period. California State Teachers Retirement System grew its stake in shares of SolarEdge Technologies by 4.6% in the 3rd quarter. California State Teachers Retirement System now owns 75,609 shares of the semiconductor company’s stock valued at $9,792,000 after buying an additional 3,311 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in SolarEdge Technologies in the 3rd quarter valued at about $3,702,000. Alberta Investment Management Corp raised its stake in SolarEdge Technologies by 74.3% during the 3rd quarter. Alberta Investment Management Corp now owns 11,876 shares of the semiconductor company’s stock worth $1,538,000 after buying an additional 5,064 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in SolarEdge Technologies by 7.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,556 shares of the semiconductor company’s stock worth $461,000 after buying an additional 246 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Down 5.1 %

SEDG opened at $23.97 on Tuesday. SolarEdge Technologies, Inc. has a 12 month low of $23.96 and a 12 month high of $288.87. The company has a market cap of $1.37 billion, a PE ratio of -5.15 and a beta of 1.52. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average of $46.99 and a 200 day moving average of $64.58.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The company had revenue of $204.40 million during the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. On average, sell-side analysts expect that SolarEdge Technologies, Inc. will post -6.52 EPS for the current year.

Analyst Ratings Changes

SEDG has been the subject of several recent research reports. Barclays boosted their price objective on SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Canaccord Genuity Group decreased their price target on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research note on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SolarEdge Technologies from $75.00 to $55.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. Bank of America decreased their target price on shares of SolarEdge Technologies from $54.00 to $44.00 and set an “underperform” rating for the company in a research report on Friday, May 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $71.00 price target on shares of SolarEdge Technologies in a research report on Friday, June 7th. Four analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.35.

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.