Thrivent Financial for Lutherans Lowers Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Thrivent Financial for Lutherans lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 5.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 44,996 shares of the semiconductor company’s stock after selling 2,571 shares during the period. Thrivent Financial for Lutherans’ holdings in SolarEdge Technologies were worth $1,031,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in SolarEdge Technologies during the second quarter worth about $28,000. KBC Group NV grew its stake in shares of SolarEdge Technologies by 95.8% during the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 1,378 shares during the period. First Pacific Financial grew its stake in shares of SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock worth $132,000 after purchasing an additional 1,805 shares during the period. US Bancorp DE increased its holdings in shares of SolarEdge Technologies by 243.6% during 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 in the last quarter. Finally, GFG Capital LLC acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at $229,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $15.89 on Tuesday. The firm has a 50-day simple moving average of $16.73 and a two-hundred day simple moving average of $25.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. SolarEdge Technologies, Inc. has a 1-year low of $10.24 and a 1-year high of $103.15. The stock has a market cap of $920.83 million, a PE ratio of -0.54 and a beta of 1.59.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results 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 during the quarter, compared to analyst estimates of $272.80 million. During the same quarter last year, the business posted ($1.03) EPS. The firm’s revenue for the quarter was down 64.0% on a year-over-year basis. As a group, analysts forecast that SolarEdge Technologies, Inc. will post -19.05 EPS for the current year.

Insider Buying and Selling

In other news, Chairman More Avery bought 156,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was bought at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the transaction, the chairman now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on SEDG. UBS Group dropped their target price on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Canaccord Genuity Group dropped their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. StockNews.com raised SolarEdge Technologies to a “sell” rating in a research note on Friday, November 8th. Morgan Stanley reissued an “underweight” rating and issued a $9.00 price target (down previously from $23.00) on shares of SolarEdge Technologies in a research note on Friday, November 15th. Finally, The Goldman Sachs Group reduced their price objective on shares of SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, November 7th. Nine investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus price target of $22.04.

SolarEdge Technologies Company 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.