Daiwa Securities Group Inc. Has $136,000 Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Daiwa Securities Group Inc. reduced its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 20.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,923 shares of the semiconductor company’s stock after selling 507 shares during the period. Daiwa Securities Group Inc.’s holdings in SolarEdge Technologies were worth $136,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SEDG. Vanguard Group Inc. lifted its holdings in SolarEdge Technologies by 3.8% in the third quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after buying an additional 92,230 shares during the period. Fulton Bank N.A. increased its stake in SolarEdge Technologies by 24.2% in the fourth quarter. Fulton Bank N.A. now owns 4,056 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 791 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in SolarEdge Technologies by 72.9% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 2,912 shares of the semiconductor company’s stock valued at $273,000 after purchasing an additional 1,228 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in SolarEdge Technologies in the fourth quarter valued at approximately $3,071,000. Finally, Cascade Investment Advisors Inc. increased its stake in SolarEdge Technologies by 59.1% in the fourth quarter. Cascade Investment Advisors Inc. now owns 10,373 shares of the semiconductor company’s stock valued at $971,000 after purchasing an additional 3,855 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SEDG. Royal Bank of Canada lowered their target price on shares of SolarEdge Technologies from $71.00 to $37.00 and set a “sector perform” rating for the company in a research note on Monday, July 8th. Barclays upped their target price on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Morgan Stanley lowered their target price on shares of SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 26th. Susquehanna downgraded shares of SolarEdge Technologies from a “positive” rating to a “neutral” rating and lowered their target price for the company from $92.00 to $56.00 in a research note on Monday, May 13th. Finally, B. Riley lowered their price objective on shares of SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.19.

SolarEdge Technologies Trading Up 5.8 %

Shares of SEDG stock opened at $31.65 on Friday. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $41.37 and a two-hundred day moving average price of $60.69. SolarEdge Technologies, Inc. has a one year low of $23.51 and a one year high of $288.87.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The company had revenue of $204.40 million for the quarter, compared to analyst estimates of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. On average, research analysts anticipate that SolarEdge Technologies, Inc. will post -6.52 earnings per share for the current year.

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.