Renaissance Technologies LLC Has $24.33 Million Holdings in SolarEdge Technologies, Inc. $SEDG

Renaissance Technologies LLC cut its position in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 34.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 476,640 shares of the semiconductor company’s stock after selling 246,000 shares during the quarter. Renaissance Technologies LLC’s holdings in SolarEdge Technologies were worth $24,332,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. State of Wyoming acquired a new stake in shares of SolarEdge Technologies during the fourth quarter valued at approximately $27,000. Rakuten Securities Inc. grew its position in SolarEdge Technologies by 82.1% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 432 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in SolarEdge Technologies during the 4th quarter worth approximately $31,000. Canada Pension Plan Investment Board acquired a new stake in SolarEdge Technologies during the 2nd quarter valued at $35,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of SolarEdge Technologies in the fourth quarter valued at $36,000. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

NASDAQ SEDG opened at $39.04 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $57.27 and a 200 day simple moving average of $46.48. The company has a market cap of $2.37 billion, a P/E ratio of -6.37 and a beta of 1.45. SolarEdge Technologies, Inc. has a 1 year low of $23.01 and a 1 year high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last announced its earnings results on Wednesday, May 6th. The semiconductor company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.20). The firm had revenue of $309.90 million during the quarter, compared to the consensus estimate of $305.49 million. SolarEdge Technologies had a negative return on equity of 38.66% and a negative net margin of 28.56%.The business’s revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the business earned ($1.14) EPS. On average, sell-side analysts predict that SolarEdge Technologies, Inc. will post -1.1 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company assumed coverage on SolarEdge Technologies in a research report on Monday, June 29th. They issued an “equal weight” rating and a $36.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on SolarEdge Technologies from $42.00 to $39.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. The Goldman Sachs Group restated a “sell” rating and set a $31.00 price objective (down from $36.00) on shares of SolarEdge Technologies in a research report on Wednesday, April 15th. UBS Group upped their target price on SolarEdge Technologies from $36.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of SolarEdge Technologies from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of “Reduce” and an average target price of $38.06.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery sold 2,566 shares of SolarEdge Technologies stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $38.76, for a total value of $99,458.16. Following the transaction, the chairman directly owned 295,379 shares in the company, valued at approximately $11,448,890.04. The trade was a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.04% of the company’s stock.

About SolarEdge Technologies

SolarEdge Technologies (NASDAQ: SEDG) is a global provider of solar energy solutions focused on optimizing photovoltaic (PV) power generation. The company’s core offerings include power optimizers, inverters and cloud-based monitoring platforms designed to maximize energy output and improve safety across residential, commercial and utility-scale installations. By coupling module-level electronics with centralized inverters, SolarEdge’s technology enables real-time performance monitoring and rapid fault detection to enhance system reliability.

In recent years, SolarEdge has expanded its product portfolio beyond solar PV to include energy storage systems, electric vehicle (EV) charging solutions and smart energy management tools.