Louisiana State Employees Retirement System Purchases 700 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Louisiana State Employees Retirement System increased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,800 shares of the semiconductor company’s stock after acquiring an additional 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in SolarEdge Technologies were worth $727,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Swedbank AB bought a new position in shares of SolarEdge Technologies in the first quarter valued at approximately $261,312,000. Vanguard Group Inc. boosted its position in shares of SolarEdge Technologies by 2.8% in the first quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after acquiring an additional 62,942 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of SolarEdge Technologies by 0.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock valued at $25,531,000 after acquiring an additional 2,795 shares during the period. Franklin Resources Inc. boosted its position in shares of SolarEdge Technologies by 112.0% in the fourth quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock valued at $52,023,000 after acquiring an additional 293,588 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in SolarEdge Technologies by 2.0% during the first quarter. UniSuper Management Pty Ltd now owns 549,163 shares of the semiconductor company’s stock valued at $38,980,000 after purchasing an additional 10,866 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Stock Down 3.0 %

Shares of NASDAQ SEDG opened at $24.91 on Friday. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. SolarEdge Technologies, Inc. has a 52 week low of $19.81 and a 52 week high of $167.87. The firm’s fifty day moving average is $26.22 and its 200 day moving average is $48.56. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -5.36 and a beta of 1.52.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $265.41 million during the quarter, compared to analysts’ expectations of $264.31 million. During the same period in the previous year, the firm earned $2.06 earnings per share. The firm’s quarterly revenue was down 73.2% compared to the same quarter last year. On average, equities research analysts expect that SolarEdge Technologies, Inc. will post -8.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SEDG. Scotiabank dropped their target price on shares of 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. Morgan Stanley dropped their target price on shares of SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 26th. JPMorgan Chase & Co. lifted their target price on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Northland Securities lowered shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 9th. Finally, Royal Bank of Canada dropped their target price on shares of SolarEdge Technologies from $37.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Four research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.60.

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.