SolarEdge Technologies, Inc. $SEDG Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 60,000 shares of the semiconductor company’s stock, valued at approximately $1,912,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of SolarEdge Technologies as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP purchased a new stake in SolarEdge Technologies during the 2nd quarter worth approximately $31,000. Nykredit A S acquired a new position in shares of SolarEdge Technologies in the 2nd quarter valued at approximately $36,000. State of Wyoming boosted its stake in shares of SolarEdge Technologies by 32.9% during the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock valued at $63,000 after buying an additional 306 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of SolarEdge Technologies during the 2nd quarter valued at approximately $72,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of SolarEdge Technologies by 18.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock valued at $97,000 after buying an additional 479 shares during the last quarter. Institutional investors and hedge funds own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $27.51 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.12 and a quick ratio of 1.38. SolarEdge Technologies, Inc. has a 12-month low of $25.25 and a 12-month high of $81.25. The business’s fifty day moving average price is $32.65 and its 200 day moving average price is $42.12. The stock has a market capitalization of $1.69 billion, a PE ratio of -7.24 and a beta of 1.31.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Wednesday, November 4th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.25. The company had revenue of $325.40 million for the quarter, compared to the consensus estimate of $326.78 million. SolarEdge Technologies had a negative net margin of 17.34% and a negative return on equity of 19.80%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm posted ($0.31) EPS. Equities research analysts forecast that SolarEdge Technologies, Inc. will post -1.21 EPS for the current year.

Analyst Upgrades and Downgrades

SEDG has been the subject of a number of research analyst reports. Susquehanna dropped their price target on shares of SolarEdge Technologies from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday. Wall Street Zen upgraded shares of SolarEdge Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 1st. JPMorgan Chase & Co. reduced their price objective on shares of SolarEdge Technologies from $38.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group raised shares of SolarEdge Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $42.00 in a report on Wednesday, August 26th. Finally, Weiss Ratings raised shares of SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, SolarEdge Technologies presently has a consensus rating of “Reduce” and an average price target of $36.93.

Key Headlines Impacting SolarEdge Technologies

Here are the key news stories impacting SolarEdge Technologies this week:

• Positive Sentiment: SolarEdge’s quarterly earnings per share beat consensus expectations, helping drive unusually high trading volume. Revenue came in slightly below estimates, tempering the positive result. SolarEdge sees unusually high trading volume on better-than-expected earnings
• Neutral Sentiment: Susquehanna lowered its target from $32 to $31 but maintained a neutral rating; JPMorgan also kept a neutral rating while cutting its target from $38 to $31. Both targets remain above the reference share price. Susquehanna sets new price target
• Negative Sentiment: Royal Bank of Canada cut its target from $30 to $25 and rated the shares sector perform. Citigroup lowered its target from $30 to $24 with a sell rating, while Goldman Sachs cut its target from $29 to $25 and also rated the stock sell. These calls point to limited upside or potential downside. Royal Bank of Canada recommendations
• Negative Sentiment: Weak demand is seen as clouding SolarEdge’s recovery, adding to concerns that a rebound may take longer than hoped. SolarEdge: Weak Demand Clouds The Recovery

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.