Ensign Peak Advisors Inc Acquires 1,750 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Ensign Peak Advisors Inc increased its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,491 shares of the semiconductor company’s stock after purchasing an additional 1,750 shares during the period. Ensign Peak Advisors Inc’s holdings in SolarEdge Technologies were worth $467,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Green Alpha Advisors LLC increased its position in SolarEdge Technologies by 2.7% in the first quarter. Green Alpha Advisors LLC now owns 10,226 shares of the semiconductor company’s stock worth $726,000 after purchasing an additional 270 shares during the last quarter. GAMMA Investing LLC increased its position in SolarEdge Technologies by 90.0% during the first quarter. GAMMA Investing LLC now owns 610 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 289 shares during the last quarter. Royal London Asset Management Ltd. increased its position in SolarEdge Technologies by 1.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 21,870 shares of the semiconductor company’s stock valued at $2,047,000 after acquiring an additional 378 shares during the last quarter. Trillium Asset Management LLC increased its position in SolarEdge Technologies by 1.6% during the first quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock valued at $1,960,000 after acquiring an additional 427 shares during the last quarter. Finally, Yelin Lapidot Holdings Management Ltd. increased its position in SolarEdge Technologies by 5.1% during the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after acquiring an additional 564 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

NASDAQ:SEDG opened at $23.12 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -4.97 and a beta of 1.56. The company has a 50 day moving average price of $23.52 and a 200-day moving average price of $40.35. SolarEdge Technologies, Inc. has a 1-year low of $17.12 and a 1-year high of $135.95.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly 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). The company had revenue of $265.41 million during the quarter, compared to analysts’ expectations of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. SolarEdge Technologies’s revenue was down 73.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.06 EPS. Equities research analysts forecast that SolarEdge Technologies, Inc. will post -8.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 26th. DZ Bank cut shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective on the stock. in a research report on Wednesday, July 17th. William Blair initiated coverage on shares of SolarEdge Technologies in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Mizuho reduced 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. Finally, Royal Bank of Canada reduced their price target on shares of SolarEdge Technologies from $37.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $49.35.

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.