SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by DNB Asset Management AS

DNB Asset Management AS trimmed its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 6.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,891 shares of the semiconductor company’s stock after selling 5,686 shares during the period. DNB Asset Management AS owned about 0.15% of SolarEdge Technologies worth $2,170,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of SolarEdge Technologies by 33.0% in the fourth quarter. Fifth Third Bancorp now owns 4,105 shares of the semiconductor company’s stock valued at $384,000 after purchasing an additional 1,019 shares during the period. Arizona State Retirement System increased its position in shares of SolarEdge Technologies by 2.9% during the fourth quarter. Arizona State Retirement System now owns 15,811 shares of the semiconductor company’s stock worth $1,480,000 after acquiring an additional 440 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of SolarEdge Technologies by 20,293.3% during the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock worth $9,716,000 after acquiring an additional 103,293 shares during the last quarter. Fulton Bank N.A. boosted its holdings in SolarEdge Technologies by 24.2% in the fourth quarter. Fulton Bank N.A. now owns 4,056 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 791 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in SolarEdge Technologies by 20.9% in the fourth quarter. New York State Teachers Retirement System now owns 66,836 shares of the semiconductor company’s stock valued at $6,256,000 after purchasing an additional 11,555 shares during the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SEDG has been the topic of a number of recent analyst reports. Bank of America upped their target price on SolarEdge Technologies from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Morgan Stanley reduced their price objective on shares of SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 26th. The Goldman Sachs Group dropped their target price on shares of SolarEdge Technologies from $49.00 to $25.00 and set a “sell” rating for the company in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of SolarEdge Technologies from $75.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Finally, B. Riley lowered their price objective on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.92.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock traded down $1.12 during mid-day trading on Tuesday, hitting $23.90. 2,866,872 shares of the company’s stock traded hands, compared to its average volume of 3,137,723. SolarEdge Technologies, Inc. has a one year low of $23.21 and a one year high of $186.79. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $33.39 and a 200 day moving average price of $54.07. The company has a market cap of $1.37 billion, a PE ratio of -5.18 and a beta of 1.52.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share (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 for the quarter, compared to analyst estimates of $194.82 million. On average, equities analysts forecast that SolarEdge Technologies, Inc. will post -6.76 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.