State of Alaska Department of Revenue Has $749,000 Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

State of Alaska Department of Revenue trimmed its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 2.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 32,698 shares of the semiconductor company’s stock after selling 954 shares during the period. State of Alaska Department of Revenue’s holdings in SolarEdge Technologies were worth $749,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Trillium Asset Management LLC lifted its stake in SolarEdge Technologies by 1.6% in 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. Yelin Lapidot Holdings Management Ltd. grew its holdings 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 worth $294,000 after purchasing an additional 564 shares during the period. Texas Permanent School Fund Corp grew its holdings in SolarEdge Technologies by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company’s stock worth $3,525,000 after purchasing an additional 585 shares during the period. Swiss National Bank increased its position in SolarEdge Technologies by 0.5% during the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock worth $7,957,000 after buying an additional 600 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in SolarEdge Technologies by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock valued at $727,000 after buying an additional 700 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Trading Down 22.2 %

Shares of SEDG stock opened at $14.68 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The company has a market cap of $840.88 million, a PE ratio of -1.63 and a beta of 1.59. SolarEdge Technologies, Inc. has a fifty-two week low of $14.50 and a fifty-two week high of $103.15. The stock’s fifty day moving average price is $19.54 and its two-hundred day moving average price is $31.29.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. During the same quarter in the prior year, the business earned $2.06 EPS. The business’s quarterly revenue was down 73.2% on a year-over-year basis. Equities analysts predict that SolarEdge Technologies, Inc. will post -8.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SEDG shares. Susquehanna decreased their target price on SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Scotiabank reduced 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 report on Thursday, August 8th. Royal Bank of Canada lowered their price target on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 15th. BMO Capital Markets reduced their price objective on SolarEdge Technologies from $24.00 to $21.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Finally, Mizuho decreased their target price on SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Seven analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.70.

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.