SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Acquired by KBC Group NV

KBC Group NV raised its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 95.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,816 shares of the semiconductor company’s stock after purchasing an additional 1,378 shares during the quarter. KBC Group NV’s holdings in SolarEdge Technologies were worth $65,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SEDG. Swedbank AB purchased a new stake in SolarEdge Technologies in the 1st quarter valued at about $261,312,000. Vanguard Group Inc. increased its position in shares of SolarEdge Technologies by 2.8% during the first quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after acquiring an additional 62,942 shares during the last quarter. Quarry LP purchased a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at approximately $36,627,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of SolarEdge Technologies by 0.3% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock worth $25,531,000 after acquiring an additional 2,795 shares during the last quarter. Finally, M&G PLC lifted its holdings in shares of SolarEdge Technologies by 4.2% in the 3rd quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after acquiring an additional 38,001 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Insider Buying and Selling

In other SolarEdge Technologies news, Chairman More Avery acquired 156,000 shares of the stock in a transaction on Monday, November 11th. The shares were 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 owns 244,478 shares of the company’s stock, valued at approximately $3,337,124.70. This trade represents a 176.32 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.67% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SEDG. Scotiabank cut their target price on SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their price objective for the company from $27.00 to $17.00 in a report on Tuesday, September 17th. Barclays decreased their target price on SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating on the stock in a research note on Friday, November 15th. Mizuho downgraded SolarEdge Technologies from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $35.00 to $11.00 in a research report on Thursday, November 7th. Finally, BMO Capital Markets reduced their price target on shares of SolarEdge Technologies from $21.00 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, November 7th. Nine equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.79.

SolarEdge Technologies Trading Up 10.7 %

Shares of SolarEdge Technologies stock opened at $11.88 on Friday. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $17.42 and a 200-day simple moving average of $27.41. The stock has a market cap of $688.45 million, a price-to-earnings ratio of -0.41 and a beta of 1.59. SolarEdge Technologies, Inc. has a 12-month low of $10.24 and a 12-month high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The company had revenue of $260.90 million during the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business’s revenue was down 64.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.03) EPS. On average, equities analysts forecast that SolarEdge Technologies, Inc. will post -19.05 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.