Veritable L.P. Has $1,119,000 Stake in SolarEdge Technologies, Inc. (SEDG)
Veritable L.P. held its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,963 shares of the semiconductor company’s stock at the end of the 2nd quarter. Veritable L.P. owned approximately 0.13% of SolarEdge Technologies worth $1,119,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of SEDG. Bank of New York Mellon Corp raised its stake 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 buying an additional 1,309,184 shares in the last quarter. Sylebra HK Co Ltd raised its stake in SolarEdge Technologies by 24.1% in the first quarter. Sylebra HK Co Ltd now owns 2,121,621 shares of the semiconductor company’s stock valued at $33,097,000 after buying an additional 412,073 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in SolarEdge Technologies by 21.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock valued at $34,731,000 after buying an additional 305,179 shares in the last quarter. Menora Mivtachim Holdings LTD. raised its stake in SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock valued at $28,880,000 after buying an additional 300,000 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in SolarEdge Technologies in the second quarter valued at $4,006,000. Institutional investors own 57.43% of the company’s stock.
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Shares of SolarEdge Technologies, Inc. (NASDAQ SEDG) opened at 29.15 on Thursday. The stock’s 50 day moving average price is $26.53 and its 200-day moving average price is $26.53. The firm has a market cap of $1.23 billion and a PE ratio of 25.84. SolarEdge Technologies, Inc. has a 52-week low of $11.35 and a 52-week high of $29.40.
SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results 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 business had revenue of $136.10 million for the quarter, compared to analyst estimates of $125.07 million. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. On average, equities research analysts anticipate that SolarEdge Technologies, Inc. will post $1.89 earnings per share for the current fiscal year.
In other news, VP Zvi Lando sold 1,300 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $22.02, for a total value of $28,626.00. Following the sale, the vice president now owns 47,311 shares in the company, valued at approximately $1,041,788.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Meir Adest sold 3,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $20.00, for a total transaction of $60,000.00. Following the completion of the sale, the vice president now owns 332,624 shares in the company, valued at approximately $6,652,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,000 shares of company stock worth $3,836,204. Company insiders own 16.40% of the company’s stock.
A number of analysts have weighed in on SEDG shares. Cowen and Company restated a “buy” rating and issued a $24.00 price target on shares of SolarEdge Technologies in a research note on Friday, July 14th. Needham & Company LLC raised their price target on SolarEdge Technologies from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, July 14th. BidaskClub upgraded SolarEdge Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Deutsche Bank AG set a $25.00 price target on SolarEdge Technologies and gave the company a “buy” rating in a research note on Wednesday, June 14th. Finally, Roth Capital upgraded SolarEdge Technologies from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. SolarEdge Technologies has a consensus rating of “Buy” and an average price target of $23.11.
SolarEdge Technologies 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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