abrdn plc Sells 17,805 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

abrdn plc trimmed its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 39.5% during the fourth quarter, HoldingsChannel reports. The firm owned 27,247 shares of the semiconductor company’s stock after selling 17,805 shares during the quarter. abrdn plc’s holdings in SolarEdge Technologies were worth $2,550,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SEDG. CWM LLC lifted its position in SolarEdge Technologies by 94.0% in the 3rd quarter. CWM LLC now owns 648 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 314 shares in the last quarter. Czech National Bank lifted its position in SolarEdge Technologies by 48.2% in the 3rd quarter. Czech National Bank now owns 9,885 shares of the semiconductor company’s stock valued at $1,280,000 after acquiring an additional 3,215 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in SolarEdge Technologies by 15.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 5,884 shares of the semiconductor company’s stock valued at $762,000 after acquiring an additional 791 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in SolarEdge Technologies by 17.6% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 15,340 shares of the semiconductor company’s stock valued at $1,987,000 after acquiring an additional 2,300 shares in the last quarter. Finally, First Pacific Financial increased its stake in SolarEdge Technologies by 21.6% in the 3rd quarter. First Pacific Financial now owns 1,725 shares of the semiconductor company’s stock valued at $223,000 after buying an additional 306 shares during the last quarter. 95.10% of the stock is owned by institutional investors.

Insider Buying and Selling at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the acquisition, the director now directly owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.17% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of SEDG stock opened at $58.20 on Monday. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 129.33 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The company has a 50-day simple moving average of $66.79 and a 200 day simple moving average of $76.89. SolarEdge Technologies, Inc. has a 52 week low of $53.59 and a 52 week high of $315.34.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. The firm had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. On average, sell-side analysts predict that SolarEdge Technologies, Inc. will post -4.62 earnings per share for the current year.

Wall Street Analyst Weigh In

SEDG has been the topic of several recent research reports. Barclays lifted their price target on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Citigroup lowered their price target on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Truist Financial lowered their price target on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. Canaccord Genuity Group reiterated a “hold” rating and issued a $75.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Finally, Piper Sandler lowered their price target on shares of SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.