Quadrature Capital Ltd Has $1.72 Million Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Quadrature Capital Ltd lessened its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 34.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,414 shares of the semiconductor company’s stock after selling 9,662 shares during the quarter. Quadrature Capital Ltd’s holdings in SolarEdge Technologies were worth $1,724,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brevan Howard Capital Management LP raised its position in SolarEdge Technologies by 110.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 39,374 shares of the semiconductor company’s stock valued at $3,685,000 after buying an additional 20,654 shares during the last quarter. International Assets Investment Management LLC raised its position in SolarEdge Technologies by 20,293.3% in the 4th quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock valued at $9,716,000 after buying an additional 103,293 shares during the last quarter. Royal London Asset Management Ltd. raised its position in SolarEdge Technologies by 5.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock valued at $2,782,000 after buying an additional 1,101 shares during the last quarter. Principal Financial Group Inc. raised its position in SolarEdge Technologies by 371.3% in the 4th quarter. Principal Financial Group Inc. now owns 288,935 shares of the semiconductor company’s stock valued at $27,044,000 after buying an additional 227,634 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in SolarEdge Technologies by 129.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 205,814 shares of the semiconductor company’s stock valued at $19,264,000 after buying an additional 116,176 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SEDG shares. Barclays boosted their price target on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Roth Mkm lowered their price target on SolarEdge Technologies from $76.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Piper Sandler lowered their price target on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Northland Capmk lowered SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $71.00 price target on shares of SolarEdge Technologies in a research report on Friday, June 7th. Four research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.38.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $37.07 on Wednesday. The stock has a fifty day moving average price of $52.79 and a 200-day moving average price of $67.93. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -7.97 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. SolarEdge Technologies, Inc. has a fifty-two week low of $36.56 and a fifty-two week high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The company had revenue of $204.40 million for the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. will post -6.08 EPS 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.