Handelsbanken Fonder AB Has $4.91 Million Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Handelsbanken Fonder AB boosted its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 1,634.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 214,368 shares of the semiconductor company’s stock after purchasing an additional 202,010 shares during the quarter. Handelsbanken Fonder AB owned 0.37% of SolarEdge Technologies worth $4,911,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Swedbank AB bought a new stake in SolarEdge Technologies during the 1st quarter worth approximately $261,312,000. Quarry LP bought a new stake in shares of SolarEdge Technologies during the second quarter worth $36,627,000. Marshall Wace LLP raised its holdings in shares of SolarEdge Technologies by 425.1% during the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock worth $14,044,000 after acquiring an additional 450,081 shares during the period. Quadrature Capital Ltd lifted its position in SolarEdge Technologies by 1,206.8% in the 1st quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company’s stock valued at $17,080,000 after acquiring an additional 222,218 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in SolarEdge Technologies by 798.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 197,679 shares of the semiconductor company’s stock valued at $4,993,000 after acquiring an additional 175,671 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

NASDAQ SEDG opened at $18.56 on Wednesday. The stock has a market cap of $1.06 billion, a PE ratio of -3.99 and a beta of 1.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The firm has a 50-day moving average of $22.72 and a 200-day moving average of $38.22. SolarEdge Technologies, Inc. has a 52-week low of $17.12 and a 52-week high of $130.38.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada dropped their price target on SolarEdge Technologies from $37.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Roth Mkm dropped their target price on SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley cut their target price on SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Truist Financial reaffirmed a “hold” rating and set a $20.00 price target on shares of SolarEdge Technologies in a research note on Tuesday, August 27th. Finally, DZ Bank lowered shares of SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective on the stock. in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.65.

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.