Keybank National Association OH grew its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 981 shares of the semiconductor company’s stock after purchasing an additional 51 shares during the period. Keybank National Association OH’s holdings in SolarEdge Technologies were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of SolarEdge Technologies by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,083,190 shares of the semiconductor company’s stock valued at $671,558,000 after purchasing an additional 37,181 shares during the period. Pictet Asset Management SA raised its holdings in shares of SolarEdge Technologies by 7.0% during the second quarter. Pictet Asset Management SA now owns 1,743,403 shares of the semiconductor company’s stock valued at $477,135,000 after purchasing an additional 113,705 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of SolarEdge Technologies by 2.6% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 781,471 shares of the semiconductor company’s stock valued at $213,873,000 after purchasing an additional 19,999 shares during the period. Clearbridge Investments LLC raised its holdings in shares of SolarEdge Technologies by 31.3% in the 2nd quarter. Clearbridge Investments LLC now owns 625,494 shares of the semiconductor company’s stock worth $171,185,000 after acquiring an additional 149,116 shares during the last quarter. Finally, Amundi raised its holdings in shares of SolarEdge Technologies by 15.7% in the 2nd quarter. Amundi now owns 507,750 shares of the semiconductor company’s stock worth $136,958,000 after acquiring an additional 68,858 shares during the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.
Insider Activity at SolarEdge Technologies
In other SolarEdge Technologies news, VP Meir Adest sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $290.46, for a total value of $726,150.00. Following the sale, the vice president now directly owns 157,248 shares in the company, valued at approximately $45,674,254.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 7,500 shares of company stock worth $2,102,625. 1.17% of the stock is owned by corporate insiders.
SolarEdge Technologies Stock Performance
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The semiconductor company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.86). The business had revenue of $836.72 million for the quarter, compared to analysts’ expectations of $825.69 million. SolarEdge Technologies had a net margin of 4.11% and a return on equity of 5.75%. On average, sell-side analysts anticipate that SolarEdge Technologies, Inc. will post 2.99 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on SEDG shares. Wells Fargo & Company upped their target price on shares of SolarEdge Technologies from $306.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Cowen upped their target price on shares of SolarEdge Technologies from $309.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, December 5th. Truist Financial lowered their target price on shares of SolarEdge Technologies from $385.00 to $320.00 and set a “buy” rating on the stock in a report on Tuesday, October 18th. Oppenheimer lowered their target price on shares of SolarEdge Technologies from $400.00 to $379.00 in a report on Tuesday, November 8th. Finally, Bank of America upgraded shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $269.00 to $367.00 in a report on Wednesday, December 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $344.00.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.
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