SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lowered its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,525 shares of the semiconductor company’s stock after selling 2,410 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in SolarEdge Technologies were worth $620,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Swedbank AB acquired a new position in SolarEdge Technologies in the first quarter valued at about $261,312,000. Vanguard Group Inc. lifted its position in 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 buying an additional 62,942 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in 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 buying an additional 2,795 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in SolarEdge Technologies by 2.0% in the first quarter. UniSuper Management Pty Ltd now owns 549,163 shares of the semiconductor company’s stock valued at $38,980,000 after buying an additional 10,866 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its position in SolarEdge Technologies by 33.1% in the second quarter. Meitav Investment House Ltd. now owns 531,044 shares of the semiconductor company’s stock valued at $13,412,000 after buying an additional 132,068 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SEDG. Jefferies Financial Group lowered shares of SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their price target for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. Mizuho cut their price target on shares of SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Canaccord Genuity Group cut their price target on shares of SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday, June 25th. Bank of America cut their price target on shares of SolarEdge Technologies from $31.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, TD Cowen cut their price target on shares of SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Five analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $49.35.

SolarEdge Technologies Price Performance

SEDG stock opened at $20.64 on Tuesday. The company has a market capitalization of $1.18 billion, a P/E ratio of -4.44 and a beta of 1.56. SolarEdge Technologies, Inc. has a twelve month low of $17.12 and a twelve month high of $138.16. The business has a 50 day simple moving average of $24.01 and a 200-day simple moving average of $41.79. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The firm had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. SolarEdge Technologies’s revenue was down 73.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.06 earnings per share. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. will post -8.67 EPS for the current year.

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.