UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 31,417 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,797 shares of the semiconductor company’s stock after selling 31,417 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.39% of SolarEdge Technologies worth $5,173,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new position in SolarEdge Technologies during the second quarter worth $36,627,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of SolarEdge Technologies by 0.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,010,729 shares of the semiconductor company’s stock valued at $25,531,000 after purchasing an additional 2,795 shares during the period. M&G PLC boosted its holdings in shares of SolarEdge Technologies by 4.2% during the 3rd quarter. M&G PLC now owns 932,711 shares of the semiconductor company’s stock worth $21,452,000 after buying an additional 38,001 shares during the period. Meitav Investment House Ltd. grew its stake in SolarEdge Technologies by 9.6% in the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock valued at $13,340,000 after buying an additional 51,065 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in SolarEdge Technologies by 425.1% in the 2nd quarter. Marshall Wace LLP now owns 555,959 shares of the semiconductor company’s stock valued at $14,044,000 after acquiring an additional 450,081 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SolarEdge Technologies

In related news, Chairman More Avery acquired 156,000 shares of the stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the purchase, the chairman now directly owns 244,478 shares of the company’s stock, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is currently owned by corporate insiders.

SolarEdge Technologies Stock Up 2.3 %

Shares of SEDG opened at $14.41 on Thursday. The company has a market capitalization of $835.06 million, a PE ratio of -0.50 and a beta of 1.56. The stock’s 50-day moving average price is $15.52 and its two-hundred day moving average price is $24.09. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $103.15.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The company had revenue of $260.90 million during the quarter, compared to the consensus estimate of $272.80 million. During the same quarter in the previous year, the company earned ($1.03) earnings per share. The business’s revenue was down 64.0% on a year-over-year basis. On average, analysts anticipate that SolarEdge Technologies, Inc. will post -19.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group lowered their target price on SolarEdge Technologies from $19.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, November 7th. UBS Group lowered their price objective on SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada reduced their target price on shares of SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. Guggenheim raised shares of SolarEdge Technologies from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Finally, Mizuho cut shares of SolarEdge Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $35.00 to $11.00 in a research note on Thursday, November 7th. Nine analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.04.

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.