Cascade Investment Advisors Inc. Purchases 1,380 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Cascade Investment Advisors Inc. boosted its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 13.3% during the 1st quarter, Holdings Channel reports. The fund owned 11,753 shares of the semiconductor company’s stock after buying an additional 1,380 shares during the period. Cascade Investment Advisors Inc.’s holdings in SolarEdge Technologies were worth $834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings in SolarEdge Technologies by 89.3% during the third quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after acquiring an additional 835,290 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in SolarEdge Technologies by 108.5% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after acquiring an additional 778,034 shares during the period. Invenomic Capital Management LP purchased a new stake in SolarEdge Technologies in the fourth quarter worth $42,644,000. Norges Bank purchased a new stake in SolarEdge Technologies in the fourth quarter worth $39,547,000. Finally, Impax Asset Management Group plc increased its position in SolarEdge Technologies by 46.3% in the third quarter. Impax Asset Management Group plc now owns 939,386 shares of the semiconductor company’s stock worth $121,067,000 after buying an additional 297,089 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG traded down $5.62 during midday trading on Thursday, hitting $47.21. The company had a trading volume of 3,107,368 shares, compared to its average volume of 2,399,672. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.54 and a quick ratio of 2.19. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -10.15 and a beta of 1.53. SolarEdge Technologies, Inc. has a 12-month low of $46.86 and a 12-month high of $306.86. The company has a fifty day moving average of $60.30 and a two-hundred day moving average of $71.89.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping the consensus estimate of ($2.01) by $0.60. The firm had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a negative return on equity of 6.43% and a negative net margin of 11.68%. On average, equities research analysts expect that SolarEdge Technologies, Inc. will post -6.08 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery purchased 7,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the purchase, the director now owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on SEDG shares. Truist Financial decreased their target price on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Wells Fargo & Company reduced their price target on SolarEdge Technologies from $81.00 to $62.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 15th. Northland Capmk cut SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 9th. Royal Bank of Canada dropped their price objective on SolarEdge Technologies from $74.00 to $71.00 and set a “sector perform” rating for the company in a research note on Thursday, May 9th. Finally, Citigroup dropped their price target on SolarEdge Technologies from $83.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Four research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $86.38.

SolarEdge Technologies Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.