SolarEdge Technologies, Inc. $SEDG Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 12.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,866 shares of the semiconductor company’s stock after selling 2,483 shares during the quarter. Maryland State Retirement & Pension System’s holdings in SolarEdge Technologies were worth $273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SEDG. Fifth Third Bancorp increased its stake in shares of SolarEdge Technologies by 93.7% in the 1st quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 790 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of SolarEdge Technologies in the 1st quarter worth $35,000. US Bancorp DE increased its stake in shares of SolarEdge Technologies by 25.2% in the 1st quarter. US Bancorp DE now owns 4,560 shares of the semiconductor company’s stock worth $74,000 after acquiring an additional 918 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of SolarEdge Technologies by 32.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,851 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 1,921 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of SolarEdge Technologies during the 4th quarter worth about $145,000. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $31.16 on Tuesday. SolarEdge Technologies, Inc. has a one year low of $10.24 and a one year high of $33.30. The company has a market cap of $1.85 billion, a PE ratio of -1.04 and a beta of 1.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.42 and a current ratio of 1.94. The business has a 50-day simple moving average of $24.39 and a 200-day simple moving average of $18.81.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Thursday, August 7th. The semiconductor company reported ($0.81) EPS for the quarter, hitting analysts’ consensus estimates of ($0.81). SolarEdge Technologies had a negative return on equity of 191.53% and a negative net margin of 177.64%. The business had revenue of $289.43 million during the quarter, compared to the consensus estimate of $270.03 million. During the same period in the previous year, the company posted ($1.79) earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities research analysts forecast that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SEDG. Oppenheimer reissued a “market perform” rating on shares of SolarEdge Technologies in a research report on Monday, August 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $27.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday, July 9th. Canaccord Genuity Group raised their price objective on SolarEdge Technologies from $14.00 to $16.50 and gave the stock a “hold” rating in a research report on Wednesday, May 7th. BNP Paribas raised SolarEdge Technologies to a “strong sell” rating in a research report on Wednesday, July 16th. Finally, Roth Capital raised their price objective on SolarEdge Technologies from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Ten analysts have rated the stock with a sell rating and nineteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.70.

About SolarEdge Technologies

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.