International Assets Investment Management LLC Purchases 24,298 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

International Assets Investment Management LLC grew its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 2,191.0% during the 3rd quarter, Holdings Channel reports. The firm owned 25,407 shares of the semiconductor company’s stock after purchasing an additional 24,298 shares during the period. International Assets Investment Management LLC’s holdings in SolarEdge Technologies were worth $582,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Trillium Asset Management LLC lifted its stake in SolarEdge Technologies by 1.6% in the first quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock valued at $1,960,000 after buying an additional 427 shares during the period. Yelin Lapidot Holdings Management Ltd. raised its position in shares of SolarEdge Technologies by 5.1% in the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after acquiring an additional 564 shares during the period. Texas Permanent School Fund Corp boosted its stake in SolarEdge Technologies by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 49,655 shares of the semiconductor company’s stock worth $3,525,000 after acquiring an additional 585 shares during the last quarter. Swiss National Bank grew its holdings in SolarEdge Technologies by 0.5% during the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock valued at $7,957,000 after purchasing an additional 600 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in SolarEdge Technologies by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock valued at $727,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

Analyst Upgrades and Downgrades

SEDG has been the topic of a number of recent analyst reports. Glj Research cut shares of SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. DZ Bank cut SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 target price for the company. in a research note on Wednesday, July 17th. William Blair assumed coverage on SolarEdge Technologies in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Truist Financial reiterated a “hold” rating and issued a $20.00 price objective on shares of SolarEdge Technologies in a research report on Tuesday, August 27th. Finally, Susquehanna dropped their target price on shares of SolarEdge Technologies from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Seven analysts have rated the stock with a sell rating, twenty have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.88.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $18.87 on Wednesday. The company has a fifty day moving average price of $19.90 and a two-hundred day moving average price of $31.67. SolarEdge Technologies, Inc. has a one year low of $14.82 and a one year high of $103.15. The stock has a market cap of $1.08 billion, a P/E ratio of -2.10 and a beta of 1.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The firm had revenue of $265.41 million during 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 revenue for the quarter was down 73.2% on a year-over-year basis. During the same quarter last year, the business posted $2.06 earnings per share. As a group, equities analysts predict that SolarEdge Technologies, Inc. will post -8.85 EPS for the current 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.