Legal & General Group Plc Cuts Stock Position in SolarEdge Technologies, Inc. $SEDG

Legal & General Group Plc lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 33.7% in the fourth quarter, Holdings Channel reports. The firm owned 863,334 shares of the semiconductor company’s stock after selling 437,889 shares during the period. Legal & General Group Plc’s holdings in SolarEdge Technologies were worth $24,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its stake in shares of SolarEdge Technologies by 28.6% in the fourth quarter. Handelsbanken Fonder AB now owns 846,148 shares of the semiconductor company’s stock worth $24,411,000 after acquiring an additional 188,086 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in SolarEdge Technologies by 15.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 231,604 shares of the semiconductor company’s stock valued at $8,569,000 after purchasing an additional 30,264 shares in the last quarter. Convergence Investment Partners LLC acquired a new stake in SolarEdge Technologies during the 3rd quarter worth $3,033,000. Aquatic Capital Management LLC grew its holdings in shares of SolarEdge Technologies by 1,282.8% during the third quarter. Aquatic Capital Management LLC now owns 125,473 shares of the semiconductor company’s stock worth $4,643,000 after buying an additional 116,399 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of SolarEdge Technologies by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 3,368,073 shares of the semiconductor company’s stock valued at $97,169,000 after buying an additional 175,582 shares during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $76.35 on Monday. SolarEdge Technologies, Inc. has a 52 week low of $13.73 and a 52 week high of $81.25. The business’s fifty day simple moving average is $49.02 and its 200-day simple moving average is $39.46. The firm has a market cap of $4.64 billion, a PE ratio of -12.46 and a beta of 1.42. The company has a quick ratio of 1.36, a current ratio of 2.02 and a debt-to-equity ratio of 0.85.

SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.20). The company had revenue of $309.90 million during the quarter, compared to analysts’ expectations of $305.49 million. SolarEdge Technologies had a negative net margin of 28.56% and a negative return on equity of 38.66%. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.14) earnings per share. Equities analysts forecast that SolarEdge Technologies, Inc. will post -1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SEDG. Barclays boosted their price target on shares of SolarEdge Technologies from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. Citigroup lowered their target price on SolarEdge Technologies from $30.00 to $27.00 and set a “sell” rating on the stock in a report on Thursday, May 7th. Jefferies Financial Group raised SolarEdge Technologies from an “underperform” rating to a “hold” rating and increased their price target for the company from $30.00 to $49.00 in a report on Friday, March 20th. Glj Research reiterated a “sell” rating on shares of SolarEdge Technologies in a research report on Monday, May 18th. Finally, Bank of America upgraded SolarEdge Technologies from an “underperform” rating to a “neutral” rating and upped their target price for the company from $17.00 to $40.00 in a report on Tuesday, March 10th. One analyst has rated the stock with a Buy rating, fifteen have assigned a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $33.25.

Insiders Place Their Bets

In other SolarEdge Technologies news, Chairman More Avery sold 2,566 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $38.76, for a total value of $99,458.16. Following the sale, the chairman owned 295,379 shares of the company’s stock, valued at $11,448,890.04. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.