Axa S.A. raised its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,300 shares of the semiconductor company’s stock after purchasing an additional 2,000 shares during the quarter. Axa S.A.’s holdings in SolarEdge Technologies were worth $7,269,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of SEDG. Northwestern Mutual Investment Management Company LLC increased its stake in shares of SolarEdge Technologies by 0.6% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,656 shares of the semiconductor company’s stock valued at $2,392,000 after buying an additional 51 shares during the period. Vident Investment Advisory LLC increased its stake in shares of SolarEdge Technologies by 31.1% in the second quarter. Vident Investment Advisory LLC now owns 1,903 shares of the semiconductor company’s stock valued at $525,000 after buying an additional 451 shares during the period. ProShare Advisors LLC increased its stake in shares of SolarEdge Technologies by 11.0% in the second quarter. ProShare Advisors LLC now owns 12,499 shares of the semiconductor company’s stock valued at $3,454,000 after buying an additional 1,235 shares during the period. Evermay Wealth Management LLC acquired a new stake in shares of SolarEdge Technologies in the second quarter valued at about $181,000. Finally, Karp Capital Management Corp increased its stake in shares of SolarEdge Technologies by 128.0% in the second quarter. Karp Capital Management Corp now owns 2,223 shares of the semiconductor company’s stock valued at $614,000 after buying an additional 1,248 shares during the period. Hedge funds and other institutional investors own 73.10% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Stephens assumed coverage on SolarEdge Technologies in a research note on Thursday, June 24th. They issued an “overweight” rating and a $336.00 price target for the company. Susquehanna increased their price target on SolarEdge Technologies from $325.00 to $350.00 and gave the company a “positive” rating in a research note on Wednesday, August 4th. initiated coverage on SolarEdge Technologies in a research note on Friday, June 25th. They set a “neutral” rating and a $300.00 target price for the company. Citigroup raised SolarEdge Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $300.00 to $360.00 in a research note on Tuesday, August 3rd. Finally, Canaccord Genuity raised their target price on SolarEdge Technologies from $260.00 to $280.00 and gave the stock a “hold” rating in a research note on Wednesday, August 4th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $323.58.
SEDG stock opened at $303.72 on Thursday. SolarEdge Technologies, Inc. has a twelve month low of $190.10 and a twelve month high of $377.00. The company has a quick ratio of 2.92, a current ratio of 3.73 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average is $278.39 and its 200-day moving average is $263.37. The firm has a market capitalization of $15.88 billion, a PE ratio of 120.05, a P/E/G ratio of 4.44 and a beta of 0.95.
SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Sunday, August 1st. The semiconductor company reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.49. SolarEdge Technologies had a return on equity of 12.63% and a net margin of 8.63%. The company had revenue of $480.10 million for the quarter, compared to analyst estimates of $455.66 million. During the same quarter last year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was up 44.7% on a year-over-year basis. On average, equities research analysts anticipate that SolarEdge Technologies, Inc. will post 3.42 earnings per share for the current fiscal year.
SolarEdge Technologies Profile
SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.
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