US Bancorp DE Increases Stake in SolarEdge Technologies, Inc. $SEDG

US Bancorp DE lifted its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 25.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,560 shares of the semiconductor company’s stock after acquiring an additional 918 shares during the period. US Bancorp DE’s holdings in SolarEdge Technologies were worth $74,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SEDG. Fifth Third Bancorp raised its holdings in SolarEdge Technologies by 93.7% in the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 790 shares during the period. Banque Cantonale Vaudoise purchased a new position in SolarEdge Technologies in the first quarter valued at approximately $35,000. Mercer Global Advisors Inc. ADV purchased a new position in SolarEdge Technologies in the fourth quarter valued at approximately $145,000. GAMMA Investing LLC raised its holdings in SolarEdge Technologies by 71.9% in the first quarter. GAMMA Investing LLC now owns 9,047 shares of the semiconductor company’s stock valued at $146,000 after buying an additional 3,783 shares during the period. Finally, ProShare Advisors LLC purchased a new position in SolarEdge Technologies in the fourth quarter valued at approximately $159,000. 95.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SEDG shares. Jefferies Financial Group raised their price target on shares of SolarEdge Technologies from $10.00 to $18.00 and gave the company an “underperform” rating in a report on Monday, July 14th. Canaccord Genuity Group raised their price target on shares of SolarEdge Technologies from $14.00 to $16.50 and gave the company a “hold” rating in a report on Wednesday, May 7th. KeyCorp upgraded shares of SolarEdge Technologies from an “underweight” rating to a “sector weight” rating in a report on Tuesday, July 8th. Roth Capital raised their price target on shares of SolarEdge Technologies from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $10.00 price objective on shares of SolarEdge Technologies in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating and nineteen have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.70.

SolarEdge Technologies Stock Up 3.7%

SEDG stock opened at $31.16 on Tuesday. The firm has a 50 day simple moving average of $24.39 and a 200-day simple moving average of $18.81. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $33.30. The company has a market capitalization of $1.85 billion, a P/E ratio of -1.04 and a beta of 1.56. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.72.

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

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.