Oppenheimer & Co. Inc. lowered its stake in Solaredge Technologies Inc (NASDAQ:SEDG) by 53.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,148 shares of the semiconductor company’s stock after selling 7,047 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Solaredge Technologies were worth $384,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in SEDG. BNP Paribas Arbitrage SA raised its stake in shares of Solaredge Technologies by 58.7% in the first quarter. BNP Paribas Arbitrage SA now owns 13,550 shares of the semiconductor company’s stock valued at $511,000 after buying an additional 5,012 shares during the period. M Holdings Securities Inc. boosted its holdings in shares of Solaredge Technologies by 10.9% in the 1st quarter. M Holdings Securities Inc. now owns 10,785 shares of the semiconductor company’s stock worth $406,000 after purchasing an additional 1,056 shares during the period. Candriam Luxembourg S.C.A. bought a new position in shares of Solaredge Technologies during the 2nd quarter valued at approximately $777,000. Swedbank bought a new position in shares of Solaredge Technologies during the 2nd quarter valued at approximately $124,959,000. Finally, Weil Company Inc. increased its position in shares of Solaredge Technologies by 10.9% during the 1st quarter. Weil Company Inc. now owns 48,901 shares of the semiconductor company’s stock valued at $1,843,000 after purchasing an additional 4,795 shares during the last quarter. Institutional investors own 84.66% of the company’s stock.
A number of brokerages recently issued reports on SEDG. ValuEngine downgraded Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Oppenheimer raised their price objective on Solaredge Technologies from $66.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Goldman Sachs Group upgraded Solaredge Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $52.00 in a research note on Monday, June 17th. Cowen set a $85.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity boosted their target price on shares of Solaredge Technologies from $62.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $75.86.
SEDG stock traded up $2.21 on Wednesday, hitting $77.33. 21,154 shares of the company’s stock were exchanged, compared to its average volume of 984,929. The firm has a 50 day moving average price of $76.48 and a two-hundred day moving average price of $56.33. Solaredge Technologies Inc has a 12-month low of $32.42 and a 12-month high of $89.43. The stock has a market cap of $3.62 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.98 and a current ratio of 2.49.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $325.00 million during the quarter, compared to analysts’ expectations of $315.53 million. Solaredge Technologies had a return on equity of 17.81% and a net margin of 10.09%. The firm’s revenue was up 43.1% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. Sell-side analysts expect that Solaredge Technologies Inc will post 2.99 earnings per share for the current fiscal year.
Solaredge Technologies Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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