Banque Cantonale Vaudoise Lowers Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Banque Cantonale Vaudoise cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 24.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,846 shares of the semiconductor company’s stock after selling 3,468 shares during the period. Banque Cantonale Vaudoise’s holdings in SolarEdge Technologies were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SEDG. International Assets Investment Management LLC lifted its holdings in SolarEdge Technologies by 20,293.3% in the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after buying an additional 103,293 shares during the period. CWM LLC lifted its holdings in SolarEdge Technologies by 92.9% in the fourth quarter. CWM LLC now owns 1,250 shares of the semiconductor company’s stock worth $117,000 after buying an additional 602 shares during the period. GAMMA Investing LLC purchased a new position in shares of SolarEdge Technologies during the fourth quarter valued at approximately $30,000. Victory Capital Management Inc. lifted its holdings in shares of SolarEdge Technologies by 374.4% during the fourth quarter. Victory Capital Management Inc. now owns 9,161 shares of the semiconductor company’s stock valued at $857,000 after purchasing an additional 7,230 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of SolarEdge Technologies by 83.2% during the fourth quarter. Amalgamated Bank now owns 16,249 shares of the semiconductor company’s stock valued at $1,521,000 after purchasing an additional 7,381 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on SEDG. Wells Fargo & Company lowered their target price on shares of SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating for the company in a report on Tuesday, July 2nd. Northland Capmk lowered shares of SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 9th. Citigroup lowered their target price on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Northland Securities lowered shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, May 9th. Four analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $52.60.

SolarEdge Technologies Trading Down 2.3 %

NASDAQ:SEDG opened at $24.33 on Tuesday. SolarEdge Technologies, Inc. has a 12 month low of $19.81 and a 12 month high of $167.87. The company has a 50 day simple moving average of $25.87 and a two-hundred day simple moving average of $47.27. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.39 billion, a PE ratio of -5.23 and a beta of 1.52.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The business had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company’s revenue was down 73.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.06 EPS. Research analysts forecast that SolarEdge Technologies, Inc. will post -8.51 earnings per share 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.