SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 24.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,500 shares of the semiconductor company’s stock after purchasing an additional 35,495 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in SolarEdge Technologies were worth $4,585,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SEDG. Swedbank AB purchased a new position in shares of SolarEdge Technologies in the 1st quarter valued at about $261,312,000. Quarry LP purchased a new position in SolarEdge Technologies during the 2nd quarter valued at about $36,627,000. Invenomic Capital Management LP purchased a new position in SolarEdge Technologies during the 4th quarter valued at about $42,644,000. Marshall Wace LLP increased its holdings in SolarEdge Technologies by 425.1% during the 2nd quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock valued at $14,044,000 after acquiring an additional 450,081 shares in the last quarter. Finally, Quadrature Capital Ltd increased its holdings in SolarEdge Technologies by 1,206.8% during the 1st quarter. Quadrature Capital Ltd now owns 240,632 shares of the semiconductor company’s stock valued at $17,080,000 after acquiring an additional 222,218 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SEDG. Truist Financial restated a “hold” rating and set a $20.00 target price on shares of SolarEdge Technologies in a report on Tuesday, August 27th. Piper Sandler decreased their price target on shares of SolarEdge Technologies from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Scotiabank decreased their price target on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. TD Cowen decreased their price target on shares of SolarEdge Technologies from $50.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Bank of America decreased their price target on shares of SolarEdge Technologies from $31.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $49.35.

SolarEdge Technologies Trading Down 0.6 %

Shares of SEDG stock opened at $20.13 on Friday. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -4.33 and a beta of 1.56. The company has a quick ratio of 2.45, a current ratio of 5.10 and a debt-to-equity ratio of 0.32. SolarEdge Technologies, Inc. has a fifty-two week low of $17.12 and a fifty-two week high of $130.38. The firm’s 50 day moving average price is $23.02 and its two-hundred day moving average price is $39.06.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share 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 quarterly revenue was down 73.2% on a year-over-year basis. During the same period last year, the firm earned $2.06 earnings per share. On average, analysts anticipate that SolarEdge Technologies, Inc. will post -8.57 EPS 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.