PNC Financial Services Group Inc. Raises Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

PNC Financial Services Group Inc. grew its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 41.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,059 shares of the semiconductor company’s stock after buying an additional 4,413 shares during the period. PNC Financial Services Group Inc.’s holdings in SolarEdge Technologies were worth $1,410,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 183 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in SolarEdge Technologies by 1,345.0% during the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 269 shares in the last quarter. GAMMA Investing LLC purchased a new stake in SolarEdge Technologies during the 4th quarter worth about $30,000. Compagnie Lombard Odier SCmA lifted its holdings in SolarEdge Technologies by 250.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 500 shares in the last quarter. Finally, CWM LLC lifted its holdings in SolarEdge Technologies by 92.9% during the 4th quarter. CWM LLC now owns 1,250 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 602 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Down 3.8 %

SEDG opened at $33.01 on Friday. The stock’s 50 day simple moving average is $50.75 and its 200 day simple moving average is $67.03. 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 1 year low of $32.54 and a 1 year high of $288.87.

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

Wall Street Analyst Weigh In

SEDG has been the topic of a number of recent research reports. TD Cowen dropped their price objective on SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. BMO Capital Markets lowered their price target on SolarEdge Technologies from $73.00 to $56.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. 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 report on Tuesday, May 7th. The Goldman Sachs Group lowered their price target on SolarEdge Technologies from $64.00 to $49.00 and set a “sell” rating on the stock in a report on Thursday, May 9th. Finally, Janney Montgomery Scott cut SolarEdge Technologies from a “buy” rating to a “neutral” rating in a report on Friday, March 22nd. Four equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and an average price target of $85.19.

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.