Quintet Private Bank Europe S.A. Increases Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Quintet Private Bank Europe S.A. raised its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 55.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122,439 shares of the semiconductor company’s stock after buying an additional 43,890 shares during the period. Quintet Private Bank Europe S.A.’s holdings in SolarEdge Technologies were worth $11,460,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of SolarEdge Technologies by 194.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 183 shares during the period. Manchester Capital Management LLC boosted its holdings in SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after buying an additional 269 shares during the period. GAMMA Investing LLC bought a new position in SolarEdge Technologies in the 4th quarter worth $30,000. Compagnie Lombard Odier SCmA boosted its holdings in SolarEdge Technologies by 250.0% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after buying an additional 500 shares during the period. Finally, CWM LLC boosted its holdings in SolarEdge Technologies by 92.9% in the 4th quarter. CWM LLC now owns 1,250 shares of the semiconductor company’s stock worth $117,000 after buying an additional 602 shares during the period. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen decreased their price target on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Northland Securities lowered shares of SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 9th. DZ Bank assumed coverage on shares of SolarEdge Technologies in a research note on Wednesday, April 17th. They issued a “hold” rating and a $62.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of SolarEdge Technologies from $81.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 15th. Finally, Citigroup dropped their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $86.38.

SolarEdge Technologies Price Performance

Shares of NASDAQ:SEDG traded down $3.41 on Friday, hitting $39.86. The company had a trading volume of 3,082,701 shares, compared to its average volume of 1,900,671. The business has a 50 day moving average of $54.07 and a 200 day moving average of $68.61. SolarEdge Technologies, Inc. has a 52-week low of $39.84 and a 52-week high of $288.87. The company has a market cap of $2.28 billion, a PE ratio of -8.57 and a beta of 1.62. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The firm had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $194.82 million. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. will post -6.08 earnings per share for the current fiscal 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.