Sumitomo Mitsui Trust Holdings Inc. Sells 119,258 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 60.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,917 shares of the semiconductor company’s stock after selling 119,258 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in SolarEdge Technologies were worth $7,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in SolarEdge Technologies by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after acquiring an additional 92,230 shares during the period. Baillie Gifford & Co. raised its stake in SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock valued at $229,298,000 after acquiring an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its stake in SolarEdge Technologies by 108.5% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock valued at $193,626,000 after acquiring an additional 778,034 shares during the period. Impax Asset Management Group plc raised its stake in SolarEdge Technologies by 1.6% in the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock valued at $88,890,000 after acquiring an additional 14,878 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in SolarEdge Technologies by 15.3% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 895,622 shares of the semiconductor company’s stock valued at $116,022,000 after acquiring an additional 118,647 shares during the period. Institutional investors own 95.10% of the company’s stock.

Insider Transactions at SolarEdge Technologies

In related news, Director More Avery acquired 7,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was bought 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 directly owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.17% of the stock is owned by corporate insiders.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $56.77 on Wednesday. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $3.24 billion, a PE ratio of 126.16 and a beta of 1.51. SolarEdge Technologies, Inc. has a 12 month low of $53.59 and a 12 month high of $321.33. The stock has a 50-day moving average price of $68.43 and a two-hundred day moving average price of $78.27.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The firm had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. Analysts expect that SolarEdge Technologies, Inc. will post -4.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on SEDG. Scotiabank lowered their price objective on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 21st. The Goldman Sachs Group lowered their price objective on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating on the stock in a research report on Wednesday, January 24th. DZ Bank began coverage on SolarEdge Technologies in a research report on Wednesday, April 17th. They set a “hold” rating and a $62.00 price objective on the stock. Canaccord Genuity Group began coverage on SolarEdge Technologies in a research report on Tuesday, January 16th. They set a “hold” rating and a $80.00 price objective on the stock. Finally, Susquehanna lowered their price objective on SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, SolarEdge Technologies has an average rating of “Hold” and a consensus target price of $98.38.

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.