SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Purchased by Albion Financial Group UT

Albion Financial Group UT raised its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 32.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,918 shares of the semiconductor company’s stock after acquiring an additional 955 shares during the quarter. Albion Financial Group UT’s holdings in SolarEdge Technologies were worth $278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invenomic Capital Management LP purchased a new stake in SolarEdge Technologies during the fourth quarter worth approximately $42,644,000. Norges Bank acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at $39,547,000. Franklin Resources Inc. grew its position in shares of SolarEdge Technologies by 112.0% in the 4th quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock valued at $52,023,000 after buying an additional 293,588 shares during the last quarter. Principal Financial Group Inc. raised its stake in SolarEdge Technologies by 371.3% during the 4th quarter. Principal Financial Group Inc. now owns 288,935 shares of the semiconductor company’s stock worth $27,044,000 after acquiring an additional 227,634 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in SolarEdge Technologies by 129.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 205,814 shares of the semiconductor company’s stock valued at $19,264,000 after acquiring an additional 116,176 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on SolarEdge Technologies from $75.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Northland Securities lowered SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 9th. Morgan Stanley decreased their price objective on SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, June 26th. Susquehanna lowered shares of SolarEdge Technologies from a “positive” rating to a “neutral” rating and lowered their target price for the stock from $92.00 to $56.00 in a research report on Monday, May 13th. Finally, DZ Bank assumed coverage on shares of SolarEdge Technologies in a research report on Wednesday, April 17th. They issued a “hold” rating and a $62.00 price target for the company. Four analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and a consensus price target of $75.08.

SolarEdge Technologies Stock Up 4.4 %

SEDG stock opened at $25.32 on Thursday. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. The company’s 50 day simple moving average is $45.69 and its 200-day simple moving average is $63.80. SolarEdge Technologies, Inc. has a 12 month low of $23.51 and a 12 month high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly 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). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The company had revenue of $204.40 million during the quarter, compared to analyst estimates of $194.82 million. On average, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post -6.52 EPS for the current year.

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.