US Bancorp DE Purchases 4,834 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

US Bancorp DE grew its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 243.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,818 shares of the semiconductor company’s stock after purchasing an additional 4,834 shares during the quarter. US Bancorp DE’s holdings in SolarEdge Technologies were worth $156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Swiss National Bank raised its position in shares of SolarEdge Technologies by 0.5% in the 1st quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock valued at $7,957,000 after acquiring an additional 600 shares during the period. ProShare Advisors LLC raised its holdings in SolarEdge Technologies by 24.9% in the first quarter. ProShare Advisors LLC now owns 10,030 shares of the semiconductor company’s stock worth $712,000 after purchasing an additional 1,997 shares during the period. State Board of Administration of Florida Retirement System bought a new position in shares of SolarEdge Technologies during the first quarter worth $236,000. Vanguard Group Inc. grew its holdings in shares of SolarEdge Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after buying an additional 62,942 shares during the period. Finally, UniSuper Management Pty Ltd increased its position in shares of SolarEdge Technologies by 2.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 549,163 shares of the semiconductor company’s stock valued at $38,980,000 after buying an additional 10,866 shares in the last quarter. 95.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SEDG has been the subject of a number of research analyst reports. UBS Group decreased their target price on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Susquehanna lowered their target price on SolarEdge Technologies from $20.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, TD Cowen dropped their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Ten research analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.79.

SolarEdge Technologies Price Performance

Shares of NASDAQ SEDG opened at $10.64 on Friday. SolarEdge Technologies, Inc. has a twelve month low of $10.55 and a twelve month high of $103.15. The company has a market cap of $616.59 million, a PE ratio of -0.37 and a beta of 1.59. The business’s 50 day moving average price is $18.19 and its two-hundred day moving average price is $29.31. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. During the same quarter last year, the company posted ($1.03) EPS. The firm’s revenue was down 64.0% on a year-over-year basis. On average, analysts predict that SolarEdge Technologies, Inc. will post -17.69 EPS for the current year.

Insider Buying and Selling

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

SolarEdge Technologies Company 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.