Public Sector Pension Investment Board Sells 4,500 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Public Sector Pension Investment Board reduced its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 3.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 121,608 shares of the semiconductor company’s stock after selling 4,500 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of SolarEdge Technologies worth $2,786,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SEDG. AMG National Trust Bank bought a new position in shares of SolarEdge Technologies during the third quarter valued at about $4,055,000. Connor Clark & Lunn Investment Management Ltd. raised its position in SolarEdge Technologies by 683.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 252,553 shares of the semiconductor company’s stock valued at $5,786,000 after purchasing an additional 220,304 shares during the last quarter. Mizuho Markets Americas LLC raised its position in SolarEdge Technologies by 653.4% during the 3rd quarter. Mizuho Markets Americas LLC now owns 188,340 shares of the semiconductor company’s stock valued at $4,315,000 after purchasing an additional 163,340 shares during the last quarter. Meitav Investment House Ltd. lifted its holdings in SolarEdge Technologies by 9.6% in the 3rd quarter. Meitav Investment House Ltd. now owns 582,109 shares of the semiconductor company’s stock worth $13,340,000 after buying an additional 51,065 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of SolarEdge Technologies in the 3rd quarter worth approximately $1,495,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. TD Cowen dropped their price target on SolarEdge Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research note on Thursday, November 7th. StockNews.com raised shares of SolarEdge Technologies to a “sell” rating in a research report on Friday, November 8th. Scotiabank reduced their price target on shares of SolarEdge Technologies from $46.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. UBS Group lowered their price objective on shares of SolarEdge Technologies from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Finally, Piper Sandler downgraded SolarEdge Technologies from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $17.00 to $9.00 in a report on Thursday, November 7th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.04.

Insider Transactions at SolarEdge Technologies

In other news, Chairman More Avery acquired 156,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the transaction, the chairman now owns 244,478 shares in the company, valued at $3,337,124.70. The trade was a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.67% of the company’s stock.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $14.66 on Wednesday. The business’s fifty day simple moving average is $16.63 and its two-hundred day simple moving average is $25.64. SolarEdge Technologies, Inc. has a 12 month low of $10.24 and a 12 month high of $103.15. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. During the same period last year, the business earned ($1.03) earnings per share. The company’s quarterly revenue was down 64.0% on a year-over-year basis. On average, equities analysts expect that SolarEdge Technologies, Inc. will post -19.03 earnings per share for the current year.

SolarEdge Technologies Profile

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.