SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stake Lessened by Schroder Investment Management Group

Schroder Investment Management Group decreased its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDGFree Report) by 93.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,444,377 shares of the semiconductor company’s stock after selling 21,878,377 shares during the quarter. Schroder Investment Management Group’s holdings in SolarEdge Technologies were worth $135,194,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SEDG. Baillie Gifford & Co. grew its stake in shares of SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after purchasing an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 108.5% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after buying an additional 778,034 shares during the last quarter. Norges Bank bought a new position in shares of SolarEdge Technologies in the fourth quarter valued at $39,547,000. Franklin Resources Inc. lifted its position in shares of SolarEdge Technologies by 112.0% during the 4th quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock valued at $52,023,000 after acquiring an additional 293,588 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of SolarEdge Technologies by 371.3% during the 4th quarter. Principal Financial Group Inc. now owns 288,935 shares of the semiconductor company’s stock worth $27,044,000 after acquiring an additional 227,634 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Bank of America reduced their target price on SolarEdge Technologies from $54.00 to $44.00 and set an “underperform” rating for the company in a report on Friday, May 10th. Canaccord Genuity Group reduced their price objective on shares of SolarEdge Technologies from $75.00 to $58.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $71.00 target price on shares of SolarEdge Technologies in a research report on Friday. Susquehanna lowered shares of SolarEdge Technologies from a “positive” rating to a “neutral” rating and cut their price target for the company from $92.00 to $56.00 in a report on Monday, May 13th. Finally, Truist Financial lowered their price target on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $86.38.

Check Out Our Latest Stock Report on SEDG

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock traded down $2.03 during trading on Friday, reaching $46.29. The company’s stock had a trading volume of 1,959,474 shares, compared to its average volume of 2,348,102. SolarEdge Technologies, Inc. has a one year low of $46.05 and a one year high of $293.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.19 and a current ratio of 4.54. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -10.15 and a beta of 1.62. The business’s fifty day moving average price is $56.98 and its 200-day moving average price is $70.10.

SolarEdge Technologies (NASDAQ:SEDGGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($2.42) EPS for the quarter, missing the consensus estimate of ($2.07) by ($0.35). SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. The business had revenue of $204.40 million during the quarter, compared to the consensus estimate of $194.82 million. As a group, equities research analysts predict that SolarEdge Technologies, Inc. will post -6.08 earnings per share for the current year.

SolarEdge Technologies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

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