Raymond James Financial Services Advisors Inc. Cuts Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Raymond James Financial Services Advisors Inc. lessened its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 13.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,485 shares of the semiconductor company’s stock after selling 1,154 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SolarEdge Technologies were worth $701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd boosted its holdings in SolarEdge Technologies by 143.8% in the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock worth $2,701,000 after acquiring an additional 12,302 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in SolarEdge Technologies by 5.4% in the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock worth $2,782,000 after acquiring an additional 1,101 shares in the last quarter. Meitav Investment House Ltd. boosted its holdings in SolarEdge Technologies by 27.2% in the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock worth $61,231,000 after acquiring an additional 99,681 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its holdings in SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after acquiring an additional 500 shares in the last quarter. Finally, Janney Capital Management LLC boosted its holdings in SolarEdge Technologies by 112.2% in the third quarter. Janney Capital Management LLC now owns 38,910 shares of the semiconductor company’s stock worth $5,039,000 after acquiring an additional 20,577 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Down 1.5 %

SolarEdge Technologies stock opened at $59.52 on Wednesday. The stock has a market capitalization of $3.40 billion, a PE ratio of 132.27 and a beta of 1.51. SolarEdge Technologies, Inc. has a 12 month low of $57.72 and a 12 month high of $322.19. The business has a 50 day simple moving average of $70.53 and a 200-day simple moving average of $80.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The business had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million. On average, analysts anticipate that SolarEdge Technologies, Inc. will post -4.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director More Avery purchased 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SEDG has been the subject of several recent analyst reports. B. Riley lowered their price target on SolarEdge Technologies from $166.00 to $133.00 and set a “buy” rating for the company in a report on Monday, February 5th. Mizuho decreased their target price on SolarEdge Technologies from $119.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Barclays lifted their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday. Canaccord Genuity Group began coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They set a “hold” rating and a $80.00 target price for the company. Finally, Truist Financial decreased their target price on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and an average price target of $100.28.

SolarEdge Technologies Profile

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.