Paloma Partners Management Co trimmed its stake in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 13.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,830 shares of the semiconductor company’s stock after selling 2,051 shares during the quarter. Paloma Partners Management Co’s holdings in Solaredge Technologies were worth $483,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in SEDG. Northern Trust Corp increased its position in Solaredge Technologies by 3.3% in the 2nd quarter. Northern Trust Corp now owns 102,236 shares of the semiconductor company’s stock valued at $2,046,000 after acquiring an additional 3,297 shares during the period. Vanguard Group Inc. increased its position in Solaredge Technologies by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 460,446 shares of the semiconductor company’s stock valued at $9,209,000 after acquiring an additional 18,861 shares during the period. Dimensional Fund Advisors LP increased its position in Solaredge Technologies by 15.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 191,080 shares of the semiconductor company’s stock valued at $3,822,000 after acquiring an additional 26,277 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Solaredge Technologies in the 3rd quarter valued at approximately $280,000. Finally, State of Tennessee Treasury Department acquired a new position in Solaredge Technologies in the 3rd quarter valued at approximately $882,000. Institutional investors and hedge funds own 65.65% of the company’s stock.
SEDG has been the subject of several recent research reports. Deutsche Bank cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research report on Monday, November 27th. ValuEngine raised shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Vertical Group began coverage on shares of Solaredge Technologies in a research note on Thursday, January 11th. They issued a “sell” rating on the stock. Roth Capital set a $60.00 price objective on shares of Solaredge Technologies and gave the company a “buy” rating in a research note on Thursday, February 15th. Finally, BidaskClub lowered shares of Solaredge Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.61.
SEDG stock opened at $54.00 on Friday. The stock has a market cap of $2,400.85, a price-to-earnings ratio of 29.19, a P/E/G ratio of 0.92 and a beta of -0.56. Solaredge Technologies Inc has a 12 month low of $13.50 and a 12 month high of $57.60.
Solaredge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.29. The business had revenue of $189.34 million for the quarter, compared to analyst estimates of $179.78 million. Solaredge Technologies had a net margin of 13.87% and a return on equity of 29.21%. equities analysts anticipate that Solaredge Technologies Inc will post 2.48 EPS for the current fiscal year.
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About Solaredge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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