Westwood Holdings Group Inc. Has $1.64 Million Stock Position in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Westwood Holdings Group Inc. lowered its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 68.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,120 shares of the semiconductor company’s stock after selling 49,615 shares during the period. Westwood Holdings Group Inc.’s holdings in SolarEdge Technologies were worth $1,641,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Swedbank AB bought a new stake in shares of SolarEdge Technologies during the first quarter valued at approximately $261,312,000. Vanguard Group Inc. raised its position in SolarEdge Technologies by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 2,347,396 shares of the semiconductor company’s stock valued at $166,618,000 after buying an additional 62,942 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in SolarEdge Technologies by 2.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,007,934 shares of the semiconductor company’s stock valued at $71,543,000 after purchasing an additional 23,033 shares during the period. Impax Asset Management Group plc grew its stake in SolarEdge Technologies by 1.6% in the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock valued at $88,890,000 after purchasing an additional 14,878 shares during the period. Finally, Franklin Resources Inc. grew its stake in SolarEdge Technologies by 112.0% in the 4th quarter. Franklin Resources Inc. now owns 555,796 shares of the semiconductor company’s stock valued at $52,023,000 after purchasing an additional 293,588 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Trading Down 4.6 %

Shares of SEDG stock traded down $1.22 during trading hours on Friday, reaching $25.32. The company’s stock had a trading volume of 3,238,078 shares, compared to its average volume of 5,300,463. The stock has a market capitalization of $1.45 billion, a P/E ratio of -5.45 and a beta of 1.52. SolarEdge Technologies, Inc. has a one year low of $23.51 and a one year high of $202.47. The firm’s fifty day simple moving average is $33.85 and its 200 day simple moving average is $54.47. The company has a current ratio of 4.54, a quick ratio of 2.19 and a debt-to-equity ratio of 0.30.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported ($2.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.07) by ($0.35). The business had revenue of $204.40 million during the quarter, compared to the consensus estimate of $194.82 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. Equities research analysts expect that SolarEdge Technologies, Inc. will post -6.76 EPS for the current year.

Wall Street Analyst Weigh In

SEDG has been the subject of several research reports. BMO Capital Markets cut their price target on SolarEdge Technologies from $73.00 to $56.00 and set a “market perform” rating for the company in a research note on Thursday, May 9th. Northland Securities downgraded SolarEdge Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 9th. Morgan Stanley cut their price target on SolarEdge Technologies from $83.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 26th. Canaccord Genuity Group cut their price target on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research note on Tuesday, June 25th. Finally, Canaccord Genuity Group cut their target price on SolarEdge Technologies from $58.00 to $38.00 and set a “hold” rating for the company in a research note on Tuesday, June 25th. Four investment 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. According to MarketBeat.com, SolarEdge Technologies presently has an average rating of “Hold” and a consensus target price of $59.80.

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.