Edmond DE Rothschild Holding S.A. Has $222,000 Stake in SolarEdge Technologies, Inc. (SEDG)
Edmond DE Rothschild Holding S.A. continued to hold its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,100 shares of the semiconductor company’s stock at the end of the second quarter. Edmond DE Rothschild Holding S.A.’s holdings in SolarEdge Technologies were worth $222,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in SolarEdge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after purchasing an additional 1,309,184 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in SolarEdge Technologies by 9.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 81,872 shares of the semiconductor company’s stock valued at $1,278,000 after purchasing an additional 7,140 shares during the last quarter. Stifel Financial Corp increased its holdings in SolarEdge Technologies by 215.3% in the first quarter. Stifel Financial Corp now owns 45,217 shares of the semiconductor company’s stock valued at $705,000 after purchasing an additional 30,878 shares during the last quarter. Seizert Capital Partners LLC bought a new stake in SolarEdge Technologies in the second quarter valued at about $4,006,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in SolarEdge Technologies in the first quarter valued at about $178,000. 57.43% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on SEDG shares. Axiom Securities reiterated a “sell” rating on shares of SolarEdge Technologies in a report on Friday, June 9th. Canaccord Genuity reiterated a “buy” rating and issued a $30.00 price objective (up previously from $25.00) on shares of SolarEdge Technologies in a report on Thursday, August 3rd. Roth Capital upgraded SolarEdge Technologies from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, July 27th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of SolarEdge Technologies in a report on Tuesday, September 12th. Finally, Cowen and Company reiterated a “buy” rating and issued a $24.00 price objective on shares of SolarEdge Technologies in a report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $23.11.
Shares of SolarEdge Technologies, Inc. (NASDAQ SEDG) opened at 26.70 on Thursday. The company has a market capitalization of $1.12 billion and a P/E ratio of 23.67. The firm has a 50 day moving average price of $26.53 and a 200 day moving average price of $26.53. SolarEdge Technologies, Inc. has a one year low of $11.35 and a one year high of $27.30.
SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.18. The company had revenue of $136.10 million for the quarter, compared to the consensus estimate of $125.07 million. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts predict that SolarEdge Technologies, Inc. will post $1.89 EPS for the current fiscal year.
In other news, VP Zvi Lando sold 3,192 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $22.01, for a total value of $70,255.92. Following the transaction, the vice president now directly owns 49,203 shares of the company’s stock, valued at approximately $1,082,958.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronen Faier sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $27.24, for a total value of $544,800.00. Following the completion of the transaction, the chief financial officer now directly owns 100,000 shares in the company, valued at $2,724,000. The disclosure for this sale can be found here. Insiders sold a total of 148,000 shares of company stock worth $3,943,404 over the last three months. 16.40% of the stock is owned by company insiders.
SolarEdge Technologies Company Profile
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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