KBC Group NV Grows Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

KBC Group NV boosted its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 95.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,816 shares of the semiconductor company’s stock after buying an additional 1,378 shares during the period. KBC Group NV’s holdings in SolarEdge Technologies were worth $65,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SEDG. Meitav Investment House Ltd. raised its stake in shares of SolarEdge Technologies by 9.6% during the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock worth $13,340,000 after buying an additional 51,065 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in SolarEdge Technologies in the third quarter worth $1,495,000. E. Ohman J or Asset Management AB lifted its holdings in SolarEdge Technologies by 109.3% in the third quarter. E. Ohman J or Asset Management AB now owns 373,581 shares of the semiconductor company’s stock valued at $8,559,000 after acquiring an additional 195,085 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of SolarEdge Technologies by 56.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 309,623 shares of the semiconductor company’s stock worth $7,093,000 after purchasing an additional 111,944 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of SolarEdge Technologies during the 2nd quarter worth $678,000. 95.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on SEDG shares. Guggenheim upgraded shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research note on Wednesday. Barclays reduced their price target on shares of SolarEdge Technologies from $17.00 to $7.00 and set an “underperform” rating for the company in a research report on Friday, November 15th. Glj Research cut SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group reduced their price objective on SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating for the company in a report on Thursday, November 7th. Finally, TD Cowen decreased their target price on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Nine research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and a consensus price target of $22.79.

SolarEdge Technologies Trading Up 10.7 %

Shares of SEDG opened at $11.88 on Friday. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $103.15. The company has a market capitalization of $688.45 million, a PE ratio of -0.41 and a beta of 1.59. The stock has a fifty day moving average of $17.42 and a two-hundred day moving average of $27.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $272.80 million. During the same quarter in the previous year, the company posted ($1.03) earnings per share. The business’s revenue for the quarter was down 64.0% compared to the same quarter last year. As a group, analysts forecast that SolarEdge Technologies, Inc. will post -19.05 EPS for the current year.

Insider Activity

In other news, Chairman More Avery acquired 156,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, the chairman now directly owns 244,478 shares in the company, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.67% of the company’s stock.

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.