Baillie Gifford & Co. Has $39.38 Million Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Baillie Gifford & Co. reduced its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,718,878 shares of the semiconductor company’s stock after selling 4,008 shares during the quarter. Baillie Gifford & Co. owned approximately 3.00% of SolarEdge Technologies worth $39,379,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SEDG. Trillium Asset Management LLC grew its stake in shares of SolarEdge Technologies by 1.6% in the first quarter. Trillium Asset Management LLC now owns 27,604 shares of the semiconductor company’s stock worth $1,960,000 after purchasing an additional 427 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. increased its stake in shares of SolarEdge Technologies by 5.1% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 564 shares during the period. Swiss National Bank raised its position in shares of SolarEdge Technologies by 0.5% during the first quarter. Swiss National Bank now owns 112,100 shares of the semiconductor company’s stock worth $7,957,000 after acquiring an additional 600 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of SolarEdge Technologies by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 28,800 shares of the semiconductor company’s stock worth $727,000 after acquiring an additional 700 shares during the period. Finally, Bank Hapoalim BM boosted its holdings in SolarEdge Technologies by 2.5% in the third quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company’s stock valued at $769,000 after acquiring an additional 812 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Performance

Shares of NASDAQ:SEDG opened at $12.24 on Wednesday. The business’s 50 day moving average is $18.71 and its 200 day moving average is $29.90. SolarEdge Technologies, Inc. has a 12-month low of $12.11 and a 12-month high of $103.15. The company has a quick ratio of 1.46, a current ratio of 2.34 and a debt-to-equity ratio of 0.39.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($13.78). The firm had revenue of $260.90 million for the quarter, compared to analysts’ expectations of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. SolarEdge Technologies’s revenue was down 64.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.03) earnings per share. As a group, equities analysts predict that SolarEdge Technologies, Inc. will post -8.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on SEDG. Truist Financial lowered their price target on shares of SolarEdge Technologies from $20.00 to $15.00 and set a “hold” rating for the company in a report on Friday, November 8th. Citigroup dropped their target price on shares of SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, October 15th. Glj Research lowered SolarEdge Technologies from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Nine analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.79.

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.