Thrivent Financial for Lutherans Decreases Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Thrivent Financial for Lutherans lowered its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,996 shares of the semiconductor company’s stock after selling 2,571 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of SolarEdge Technologies worth $1,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of SolarEdge Technologies in the 2nd quarter valued at about $28,000. KBC Group NV raised its position in SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 1,378 shares during the period. First Pacific Financial lifted its stake in shares of SolarEdge Technologies by 53.0% in the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 1,805 shares during the last quarter. US Bancorp DE boosted its holdings in shares of SolarEdge Technologies by 243.6% in the 3rd quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company’s stock worth $156,000 after purchasing an additional 4,834 shares during the period. Finally, GFG Capital LLC bought a new position in shares of SolarEdge Technologies during the 3rd quarter valued at approximately $229,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

SEDG opened at $15.89 on Tuesday. The firm has a market capitalization of $920.83 million, a PE ratio of -0.54 and a beta of 1.59. The business’s 50-day moving average is $16.73 and its two-hundred day moving average is $25.89. SolarEdge Technologies, Inc. has a 1 year low of $10.24 and a 1 year high of $103.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). The firm had revenue of $260.90 million for the quarter, compared to the consensus estimate of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The company’s revenue was down 64.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.03) EPS. Research analysts anticipate that SolarEdge Technologies, Inc. will post -19.05 earnings per share for the current fiscal year.

Insider Activity at SolarEdge Technologies

In related news, Chairman More Avery purchased 156,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the acquisition, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.67% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group lowered their price target on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on shares of SolarEdge Technologies from $35.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Canaccord Genuity Group cut their price target on shares of SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Mizuho downgraded shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $35.00 to $11.00 in a research note on Thursday, November 7th. Finally, William Blair began coverage on SolarEdge Technologies in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. Nine research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, SolarEdge Technologies has an average rating of “Hold” and a consensus target price of $22.04.

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.