SolarEdge Technologies, Inc. $SEDG Stock: Vontobel Holding Ltd. Raises Stake

Vontobel Holding Ltd. raised its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 250.1% during the third quarter, HoldingsChannel.com reports. The firm owned 26,921 shares of the semiconductor company’s stock after purchasing an additional 19,231 shares during the period. Vontobel Holding Ltd.’s holdings in SolarEdge Technologies were worth $858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SEDG. State of Wyoming lifted its stake in SolarEdge Technologies by 32.9% in the first quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 306 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of SolarEdge Technologies by 18.7% during the third 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 period. Allworth Financial LP purchased a new position in shares of SolarEdge Technologies during the second quarter valued at approximately $31,000. Nykredit A S purchased a new position in shares of SolarEdge Technologies during the second quarter valued at approximately $36,000. Finally, Swiss National Bank grew its stake in shares of SolarEdge Technologies by 0.9% during the first quarter. Swiss National Bank now owns 118,200 shares of the semiconductor company’s stock valued at $6,034,000 after buying an additional 1,100 shares during the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Trading Up 4.2%

Shares of SEDG opened at $32.36 on Wednesday. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -7.19 and a beta of 1.44. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.38. SolarEdge Technologies, Inc. has a 1-year low of $28.21 and a 1-year high of $81.25. The company has a 50-day moving average of $32.90 and a 200 day moving average of $44.54.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $346.20 million for the quarter, compared to the consensus estimate of $341.15 million. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.81) EPS. On average, research analysts expect that SolarEdge Technologies, Inc. will post -1.20 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group upgraded SolarEdge Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $36.00 to $42.00 in a report on Wednesday, August 26th. Royal Bank Of Canada boosted their price objective on SolarEdge Technologies from $24.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, September 11th. Barclays dropped their price objective on SolarEdge Technologies from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, October 7th. Citigroup upped their price objective on SolarEdge Technologies from $25.00 to $30.00 and gave the company a “sell” rating in a research report on Monday, September 21st. Finally, Wells Fargo & Company initiated coverage on SolarEdge Technologies in a research note on Monday, June 29th. They issued an “equal weight” rating and a $36.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $38.33.

About SolarEdge Technologies

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.