International Assets Investment Management LLC Acquires 24,298 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

International Assets Investment Management LLC lifted its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 2,191.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,407 shares of the semiconductor company’s stock after purchasing an additional 24,298 shares during the period. International Assets Investment Management LLC’s holdings in SolarEdge Technologies were worth $582,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SEDG. Swedbank AB bought a new stake in shares of SolarEdge Technologies during the 1st quarter worth about $261,312,000. Vanguard Group Inc. lifted its holdings in SolarEdge Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock worth $166,618,000 after purchasing an additional 62,942 shares during the last quarter. Quarry LP bought a new stake in SolarEdge Technologies during the second quarter worth approximately $36,627,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in SolarEdge Technologies by 0.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock valued at $25,531,000 after purchasing an additional 2,795 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of SolarEdge Technologies by 425.1% in the second quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock valued at $14,044,000 after purchasing an additional 450,081 shares during the period. 95.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SEDG. Morgan Stanley decreased their price objective on shares of SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Truist Financial restated a “hold” rating and set a $20.00 price target on shares of SolarEdge Technologies in a report on Tuesday, August 27th. Canaccord Genuity Group dropped their price objective on SolarEdge Technologies from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Scotiabank decreased their target price 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. Finally, William Blair began coverage on SolarEdge Technologies in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Seven equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.88.

SolarEdge Technologies Stock Up 3.1 %

Shares of NASDAQ:SEDG opened at $18.87 on Wednesday. SolarEdge Technologies, Inc. has a 12 month low of $14.82 and a 12 month high of $103.15. The firm has a market cap of $1.08 billion, a P/E ratio of -2.10 and a beta of 1.59. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $19.90 and its two-hundred day moving average price is $31.67.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results 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 company had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. During the same period last year, the company earned $2.06 earnings per share. SolarEdge Technologies’s revenue for the quarter was down 73.2% compared to the same quarter last year. As a group, research analysts forecast that SolarEdge Technologies, Inc. will post -8.85 EPS 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.