First Hawaiian Bank Reduces Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

First Hawaiian Bank lowered its position in SolarEdge Technologies, Inc. (NASDAQ:SEDGGet Rating) by 32.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,281 shares of the semiconductor company’s stock after selling 621 shares during the quarter. First Hawaiian Bank’s holdings in SolarEdge Technologies were worth $413,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of SolarEdge Technologies by 63.8% during the fourth quarter. Geode Capital Management LLC now owns 811,454 shares of the semiconductor company’s stock valued at $226,980,000 after acquiring an additional 316,001 shares during the last quarter. Pictet Asset Management SA boosted its stake in shares of SolarEdge Technologies by 30.1% during the fourth quarter. Pictet Asset Management SA now owns 1,284,822 shares of the semiconductor company’s stock valued at $360,483,000 after acquiring an additional 297,272 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of SolarEdge Technologies by 33.7% during the fourth quarter. William Blair Investment Management LLC now owns 893,189 shares of the semiconductor company’s stock valued at $250,602,000 after acquiring an additional 225,021 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of SolarEdge Technologies by 647.3% during the third quarter. Janus Henderson Group PLC now owns 205,920 shares of the semiconductor company’s stock valued at $54,595,000 after acquiring an additional 178,365 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of SolarEdge Technologies during the fourth quarter valued at $30,633,000. Institutional investors and hedge funds own 75.73% of the company’s stock.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their price target on SolarEdge Technologies from $328.00 to $375.00 in a research note on Wednesday, March 30th. Cowen raised their price target on SolarEdge Technologies from $344.00 to $370.00 in a research note on Wednesday, March 30th. Wells Fargo & Company raised their price target on SolarEdge Technologies from $361.00 to $399.00 in a research note on Friday, April 1st. TheStreet lowered SolarEdge Technologies from a “b” rating to a “c” rating in a research note on Monday, May 2nd. Finally, Needham & Company LLC raised their price target on SolarEdge Technologies from $347.00 to $390.00 in a research note on Tuesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $348.93.

In other SolarEdge Technologies news, CEO Zvi Lando sold 19,399 shares of SolarEdge Technologies stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $331.08, for a total value of $6,422,620.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Meir Adest sold 10,000 shares of the stock in a transaction on Monday, April 18th. The stock was sold at an average price of $301.59, for a total transaction of $3,015,900.00. Following the sale, the vice president now directly owns 199,867 shares in the company, valued at $60,277,888.53. The disclosure for this sale can be found here. Insiders have sold 34,460 shares of company stock worth $10,773,261 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

SEDG stock opened at $291.53 on Friday. The company has a current ratio of 4.33, a quick ratio of 3.57 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $265.55 and a 200-day simple moving average of $276.53. The company has a market capitalization of $16.15 billion, a P/E ratio of 93.44, a PEG ratio of 2.08 and a beta of 1.10. SolarEdge Technologies, Inc. has a twelve month low of $200.86 and a twelve month high of $389.71.

SolarEdge Technologies (NASDAQ:SEDGGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The semiconductor company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.18). The company had revenue of $655.08 million for the quarter, compared to the consensus estimate of $634.70 million. SolarEdge Technologies had a net margin of 7.78% and a return on equity of 11.59%. On average, research analysts predict that SolarEdge Technologies, Inc. will post 4.76 EPS for the current year.

SolarEdge Technologies Company Profile (Get Rating)

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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