Kingsview Wealth Management LLC Acquires Shares of 22,467 SolarEdge Technologies, Inc. $SEDG

Kingsview Wealth Management LLC bought a new stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 22,467 shares of the semiconductor company’s stock, valued at approximately $1,313,000.

A number of other large investors also recently made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new stake in shares of SolarEdge Technologies during the second quarter worth $909,000. Public Employees Retirement System of Ohio acquired a new position in SolarEdge Technologies in the second quarter valued at about $72,000. Bank of America Corp DE acquired a new position in SolarEdge Technologies in the second quarter valued at about $13,062,000. Man Group plc bought a new position in SolarEdge Technologies during the second quarter worth about $6,540,000. Finally, Jupiter Topco LLC bought a new position in SolarEdge Technologies during the second quarter worth about $1,608,000. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Trading Down 6.3%

NASDAQ SEDG opened at $31.41 on Friday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -6.98 and a beta of 1.49. The stock’s 50 day moving average price is $43.70 and its two-hundred day moving average price is $46.44. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.38 and a current ratio of 2.03. SolarEdge Technologies, Inc. has a 52 week low of $28.21 and a 52 week high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The company had revenue of $346.20 million during the quarter, compared to analysts’ expectations of $341.15 million. During the same period last year, the business earned ($0.81) EPS. The business’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, analysts anticipate that SolarEdge Technologies, Inc. will post -1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SEDG has been the subject of a number of analyst reports. Wells Fargo & Company began coverage on shares of SolarEdge Technologies in a report on Monday, June 29th. They set an “equal weight” rating and a $36.00 price objective for the company. Susquehanna lowered their price objective on shares of SolarEdge Technologies from $56.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Royal Bank Of Canada reduced their target price on SolarEdge Technologies from $30.00 to $24.00 and set a “sector perform” rating on the stock in a report on Thursday, August 6th. The Goldman Sachs Group lowered their price target on SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating for the company in a report on Thursday, August 6th. Finally, Citigroup cut their price objective on SolarEdge Technologies from $30.00 to $27.00 and set a “sell” rating on the stock in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, SolarEdge Technologies currently has an average rating of “Reduce” and a consensus price target of $38.36.

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.