Thrivent Financial for Lutherans Sells 1,718 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Thrivent Financial for Lutherans decreased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,567 shares of the semiconductor company’s stock after selling 1,718 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of SolarEdge Technologies worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. XTX Topco Ltd lifted its position in SolarEdge Technologies by 511.0% in the 2nd quarter. XTX Topco Ltd now owns 29,552 shares of the semiconductor company’s stock worth $746,000 after buying an additional 24,715 shares during the last quarter. Seven Eight Capital LP bought a new stake in SolarEdge Technologies in the 2nd quarter worth approximately $2,731,000. Hsbc Holdings PLC lifted its position in SolarEdge Technologies by 79.8% in the 2nd quarter. Hsbc Holdings PLC now owns 42,702 shares of the semiconductor company’s stock worth $1,062,000 after buying an additional 18,946 shares during the last quarter. Renaissance Technologies LLC bought a new stake in SolarEdge Technologies in the 2nd quarter worth approximately $2,688,000. Finally, Quantbot Technologies LP bought a new stake in SolarEdge Technologies in the second quarter valued at approximately $4,391,000. Institutional investors own 95.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SEDG has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on SolarEdge Technologies from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. TD Cowen dropped their price objective on SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Scotiabank dropped their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Morgan Stanley dropped their price objective on SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Five analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SolarEdge Technologies has a consensus rating of “Hold” and an average target price of $49.35.

SolarEdge Technologies Stock Down 0.6 %

SolarEdge Technologies stock opened at $20.13 on Friday. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. SolarEdge Technologies, Inc. has a one year low of $17.12 and a one year high of $130.38. The business’s fifty day moving average is $23.02 and its 200 day moving average is $39.22.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business had revenue of $265.41 million for the quarter, compared to analysts’ expectations of $264.31 million. During the same period last year, the business earned $2.06 earnings per share. The company’s quarterly revenue was down 73.2% on a year-over-year basis. Equities analysts anticipate that SolarEdge Technologies, Inc. will post -8.57 earnings per share for the current fiscal year.

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.