Hsbc Holdings PLC Reduces Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Hsbc Holdings PLC lessened its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGFree Report) by 71.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,330 shares of the semiconductor company’s stock after selling 94,094 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of SolarEdge Technologies worth $3,596,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Yelin Lapidot Holdings Management Ltd. boosted its stake in shares of SolarEdge Technologies by 0.6% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company’s stock valued at $2,014,000 after purchasing an additional 130 shares during the period. Weil Company Inc. boosted its stake in shares of SolarEdge Technologies by 5.2% during the fourth quarter. Weil Company Inc. now owns 20,050 shares of the semiconductor company’s stock valued at $1,877,000 after purchasing an additional 996 shares during the period. Montanaro Asset Management Ltd boosted its stake in shares of SolarEdge Technologies by 30.4% during the fourth quarter. Montanaro Asset Management Ltd now owns 115,675 shares of the semiconductor company’s stock valued at $10,827,000 after purchasing an additional 27,000 shares during the period. Franklin Resources Inc. boosted its stake in shares of SolarEdge Technologies by 112.0% during the fourth quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock valued at $52,023,000 after purchasing an additional 293,588 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in shares of SolarEdge Technologies by 93.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,583 shares of the semiconductor company’s stock valued at $616,000 after purchasing an additional 3,183 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Up 3.3 %

SolarEdge Technologies stock opened at $48.92 on Thursday. The company has a quick ratio of 2.19, a current ratio of 4.54 and a debt-to-equity ratio of 0.30. SolarEdge Technologies, Inc. has a one year low of $46.86 and a one year high of $299.99. The business’s fifty day moving average is $57.85 and its 200 day moving average is $70.40.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative net margin of 11.68% and a negative return on equity of 6.43%. The business had revenue of $204.40 million for the quarter, compared to analysts’ expectations of $194.82 million. Equities analysts anticipate that SolarEdge Technologies, Inc. will post -6.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SEDG shares. BMO Capital Markets dropped their price objective on SolarEdge Technologies from $73.00 to $56.00 and set a “market perform” rating for the company in a research note on Thursday, May 9th. TD Cowen decreased their target price on SolarEdge Technologies from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Susquehanna downgraded SolarEdge Technologies from a “positive” rating to a “neutral” rating and decreased their target price for the company from $92.00 to $56.00 in a report on Monday, May 13th. Piper Sandler decreased their target price on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Finally, Bank of America decreased their target price on SolarEdge Technologies from $54.00 to $44.00 and set an “underperform” rating for the company in a report on Friday, May 10th. Four investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $86.38.

View Our Latest Stock Report on SEDG

SolarEdge Technologies Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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