SolarEdge Technologies, Inc. (NASDAQ:SEDG) Position Boosted by Albion Financial Group UT

Albion Financial Group UT lifted its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 32.2% in the first quarter, Holdings Channel.com reports. The firm owned 3,918 shares of the semiconductor company’s stock after acquiring an additional 955 shares during the quarter. Albion Financial Group UT’s holdings in SolarEdge Technologies were worth $278,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC lifted its position in SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after buying an additional 269 shares in the last quarter. GAMMA Investing LLC purchased a new position in SolarEdge Technologies in the fourth quarter valued at about $30,000. Compagnie Lombard Odier SCmA raised its stake in shares of SolarEdge Technologies by 250.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 500 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of SolarEdge Technologies by 1,066.7% during the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 640 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of SolarEdge Technologies by 120.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock valued at $79,000 after buying an additional 610 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

Shares of SEDG stock opened at $25.32 on Thursday. 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 firm’s 50 day moving average is $45.69 and its 200-day moving average is $63.80. SolarEdge Technologies, Inc. has a 1 year low of $23.51 and a 1 year high of $288.87.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Janney Montgomery Scott downgraded shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Canaccord Genuity Group cut their target price on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a report on Tuesday, June 25th. DZ Bank initiated coverage on SolarEdge Technologies in a report on Wednesday, April 17th. They issued a “hold” rating and a $62.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $71.00 price objective on shares of SolarEdge Technologies in a report on Friday, June 7th. Finally, Bank of America cut 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. Four investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Hold” and an average target price of $75.08.

SolarEdge Technologies Company 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.