Vontobel Holding Ltd. Buys 13,860 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Vontobel Holding Ltd. grew its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 16.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,616 shares of the semiconductor company’s stock after acquiring an additional 13,860 shares during the period. Vontobel Holding Ltd. owned about 0.17% of SolarEdge Technologies worth $2,259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in SolarEdge Technologies by 1,634.6% during the third quarter. Handelsbanken Fonder AB now owns 214,368 shares of the semiconductor company’s stock valued at $4,911,000 after buying an additional 202,010 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in SolarEdge Technologies by 24.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 181,500 shares of the semiconductor company’s stock valued at $4,585,000 after buying an additional 35,495 shares during the period. Quarry LP purchased a new position in SolarEdge Technologies during the second quarter valued at approximately $36,627,000. The Manufacturers Life Insurance Company increased its holdings in SolarEdge Technologies by 5.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,122 shares of the semiconductor company’s stock valued at $534,000 after buying an additional 1,175 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in SolarEdge Technologies during the second quarter valued at approximately $678,000. Institutional investors own 95.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEDG. Morgan Stanley cut their price objective on shares of SolarEdge Technologies from $28.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Mizuho cut their price objective on shares of SolarEdge Technologies from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Susquehanna cut their price target on shares of SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays cut their price target on shares of SolarEdge Technologies from $26.00 to $17.00 and set an “underweight” rating on the stock in a report on Friday, October 11th. Finally, William Blair assumed coverage on shares of SolarEdge Technologies in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Seven research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.35.

SolarEdge Technologies Trading Down 3.5 %

NASDAQ SEDG opened at $17.31 on Friday. The company has a market capitalization of $991.86 million, a PE ratio of -1.93 and a beta of 1.56. The company has a fifty day moving average of $21.73 and a 200 day moving average of $35.87. SolarEdge Technologies, Inc. has a 1 year low of $16.91 and a 1 year high of $120.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The business had revenue of $265.41 million for the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.06 earnings per share. Research analysts forecast that SolarEdge Technologies, Inc. will post -8.53 earnings per share for the current 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.