Harel Insurance Investments & Financial Services Ltd. Has $13.05 Million Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Harel Insurance Investments & Financial Services Ltd. lessened its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 20.3% in the first quarter, HoldingsChannel reports. The fund owned 806,510 shares of the semiconductor company’s stock after selling 205,250 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in SolarEdge Technologies were worth $13,049,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SEDG. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in SolarEdge Technologies by 14.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,953,698 shares of the semiconductor company’s stock worth $67,370,000 after buying an additional 641,915 shares during the last quarter. Invesco Ltd. grew its stake in SolarEdge Technologies by 5.0% in the 4th quarter. Invesco Ltd. now owns 2,445,164 shares of the semiconductor company’s stock valued at $33,254,000 after buying an additional 116,809 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of SolarEdge Technologies in the fourth quarter worth about $17,909,000. Legal & General Group Plc boosted its stake in SolarEdge Technologies by 67.6% during the fourth quarter. Legal & General Group Plc now owns 1,269,298 shares of the semiconductor company’s stock valued at $17,262,000 after buying an additional 512,035 shares during the period. Finally, Two Sigma Investments LP increased its holdings in shares of SolarEdge Technologies by 1.3% in the 4th quarter. Two Sigma Investments LP now owns 1,254,397 shares of the semiconductor company’s stock worth $17,060,000 after buying an additional 16,258 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SEDG has been the subject of a number of recent research reports. Susquehanna lowered their price objective on shares of SolarEdge Technologies from $17.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Northland Capmk raised shares of SolarEdge Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, May 23rd. Canaccord Genuity Group boosted their target price on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the company a “hold” rating in a report on Wednesday, May 7th. Glj Research downgraded SolarEdge Technologies from a “hold” rating to a “strong sell” rating and set a $6.90 price target for the company. in a report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of SolarEdge Technologies from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Twelve investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.12.

SolarEdge Technologies Stock Performance

SEDG opened at $27.45 on Friday. The company has a market cap of $1.62 billion, a P/E ratio of -0.91 and a beta of 1.62. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $32.11. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $18.07 and its 200-day moving average price is $16.00.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.12. The company had revenue of $219.48 million during the quarter, compared to analyst estimates of $205.39 million. SolarEdge Technologies had a negative return on equity of 127.53% and a negative net margin of 182.81%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted ($1.90) EPS. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. will post -4.54 EPS 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.