Cascade Investment Advisors Inc. increased its holdings in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 5.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,835 shares of the semiconductor company’s stock after purchasing an additional 1,225 shares during the quarter. Cascade Investment Advisors Inc. owned 0.05% of Solaredge Technologies worth $936,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue grew its position in Solaredge Technologies by 4.1% in the first quarter. State of Alaska Department of Revenue now owns 14,968 shares of the semiconductor company’s stock valued at $563,000 after acquiring an additional 590 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Solaredge Technologies by 12.4% during the 4th quarter. Deutsche Bank AG now owns 501,929 shares of the semiconductor company’s stock valued at $17,616,000 after buying an additional 55,194 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Solaredge Technologies by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 338,980 shares of the semiconductor company’s stock valued at $11,898,000 after buying an additional 25,154 shares during the last quarter. Norges Bank purchased a new position in shares of Solaredge Technologies during the 4th quarter valued at approximately $13,951,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Solaredge Technologies by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 715,166 shares of the semiconductor company’s stock valued at $25,102,000 after buying an additional 33,399 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on SEDG shares. BidaskClub upgraded Solaredge Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Cascend Securities upgraded Solaredge Technologies from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Thursday, January 31st. JMP Securities cut Solaredge Technologies from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research note on Thursday, January 17th. They noted that the move was a valuation call. Zacks Investment Research cut Solaredge Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Credit Suisse Group started coverage on Solaredge Technologies in a research note on Monday, March 25th. They set a “neutral” rating and a $43.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.36.
Shares of SEDG opened at $40.99 on Monday. Solaredge Technologies Inc has a 12-month low of $32.42 and a 12-month high of $70.74. The firm has a market cap of $1.92 billion, a P/E ratio of 15.24, a PEG ratio of 0.73 and a beta of 0.17. The company has a current ratio of 3.00, a quick ratio of 2.38 and a debt-to-equity ratio of 0.01.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, February 20th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.29). Solaredge Technologies had a return on equity of 25.33% and a net margin of 13.75%. The firm had revenue of $263.67 million for the quarter, compared to the consensus estimate of $249.68 million. During the same quarter last year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was up 39.3% compared to the same quarter last year. As a group, analysts predict that Solaredge Technologies Inc will post 2.54 EPS for the current fiscal year.
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About Solaredge Technologies
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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