Marshall Wace LLP Buys 450,081 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Marshall Wace LLP raised its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 425.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 555,959 shares of the semiconductor company’s stock after acquiring an additional 450,081 shares during the period. Marshall Wace LLP owned about 0.97% of SolarEdge Technologies worth $14,044,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of SolarEdge Technologies in the fourth quarter worth about $39,547,000. Corient Private Wealth LLC lifted its position in SolarEdge Technologies by 93.6% during the 4th 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. GM Advisory Group LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at approximately $779,000. Alberta Investment Management Corp boosted its stake in SolarEdge Technologies by 10.9% in the fourth quarter. Alberta Investment Management Corp now owns 13,176 shares of the semiconductor company’s stock valued at $1,233,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in SolarEdge Technologies by 1.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 21,870 shares of the semiconductor company’s stock worth $2,047,000 after acquiring an additional 378 shares during the period. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on SEDG shares. DZ Bank downgraded SolarEdge Technologies from a “hold” rating to a “sell” rating and set a $24.00 price objective for the company. in a report on Wednesday, July 17th. Royal Bank of Canada reduced their price objective on shares of SolarEdge Technologies from $37.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Bank of America decreased their price objective on shares of SolarEdge Technologies from $31.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Roth Mkm reduced their price target on shares of SolarEdge Technologies from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of SolarEdge Technologies from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Five analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.35.

SolarEdge Technologies Price Performance

SolarEdge Technologies stock opened at $23.12 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. SolarEdge Technologies, Inc. has a 52 week low of $17.12 and a 52 week high of $135.95. The stock has a market capitalization of $1.32 billion, a P/E ratio of -4.97 and a beta of 1.56. The stock has a fifty day moving average of $23.52 and a 200-day moving average of $40.76.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The company had revenue of $265.41 million during the quarter, compared to analyst estimates of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company’s revenue for the quarter was down 73.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.06 earnings per share. On average, sell-side analysts expect that SolarEdge Technologies, Inc. will post -8.57 earnings per share for the current fiscal year.

SolarEdge Technologies Company 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.