Banque Cantonale Vaudoise Sells 5,199 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Banque Cantonale Vaudoise lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 47.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,647 shares of the semiconductor company’s stock after selling 5,199 shares during the quarter. Banque Cantonale Vaudoise’s holdings in SolarEdge Technologies were worth $129,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in SolarEdge Technologies during the second quarter worth $28,000. EntryPoint Capital LLC bought a new stake in SolarEdge Technologies during the first quarter worth $64,000. KBC Group NV grew its holdings in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after buying an additional 1,378 shares in the last quarter. First Pacific Financial grew its holdings in SolarEdge Technologies by 53.0% during the second quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after buying an additional 1,805 shares in the last quarter. Finally, US Bancorp DE grew its stake in SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 4,834 shares during the period. Institutional investors own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen reduced their price objective on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. Roth Mkm reduced their price objective on SolarEdge Technologies from $20.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Piper Sandler downgraded SolarEdge Technologies from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $17.00 to $9.00 in a research note on Thursday, November 7th. Mizuho downgraded SolarEdge Technologies from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $11.00 in a research note on Thursday, November 7th. Finally, Citigroup reduced their price objective on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Nine investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.79.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the stock in a transaction dated Monday, November 11th. The stock was purchased at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, the chairman now owns 244,478 shares in the company, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.67% of the company’s stock.

SolarEdge Technologies Trading Up 10.7 %

Shares of SEDG opened at $11.88 on Friday. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $103.15. The company has a market capitalization of $688.45 million, a P/E ratio of -0.41 and a beta of 1.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The firm’s 50 day simple moving average is $17.58 and its 200 day simple moving average is $27.96.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. During the same quarter last year, the business posted ($1.03) EPS. The business’s quarterly revenue was down 64.0% compared to the same quarter last year. Sell-side analysts forecast that SolarEdge Technologies, Inc. will post -19.05 earnings per share for the current fiscal year.

About SolarEdge Technologies

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.