SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd grew its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 511.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,552 shares of the semiconductor company’s stock after purchasing an additional 24,715 shares during the period. XTX Topco Ltd owned approximately 0.05% of SolarEdge Technologies worth $746,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brevan Howard Capital Management LP increased its holdings in shares of SolarEdge Technologies by 110.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock valued at $3,685,000 after purchasing an additional 20,654 shares during the period. Albion Financial Group UT increased its holdings in shares of SolarEdge Technologies by 32.2% in the first quarter. Albion Financial Group UT now owns 3,918 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 955 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of SolarEdge Technologies by 3,750.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 46,200 shares of the semiconductor company’s stock valued at $3,243,000 after purchasing an additional 45,000 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of SolarEdge Technologies in the second quarter valued at about $679,000. Finally, Royal London Asset Management Ltd. increased its holdings in shares of SolarEdge Technologies by 1.8% in 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 purchasing an additional 378 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Price Performance

NASDAQ:SEDG opened at $20.37 on Monday. SolarEdge Technologies, Inc. has a one year low of $17.12 and a one year high of $139.41. 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 stock has a market cap of $1.17 billion, a PE ratio of -4.38 and a beta of 1.56. The stock has a 50 day moving average price of $24.14 and a 200 day moving average price of $42.17.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The business had revenue of $265.41 million for the quarter, compared to analyst estimates 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 last year, the business earned $2.06 EPS. Equities research analysts expect that SolarEdge Technologies, Inc. will post -8.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SEDG shares. JPMorgan Chase & Co. upped their target price on SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Mizuho lowered their target price on SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday. Roth Mkm lowered their target price on SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada lowered their target price on 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. Finally, Truist Financial restated a “hold” rating and issued a $20.00 target price on shares of SolarEdge Technologies in a research note on Tuesday, August 27th. Five analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.35.

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.