Connor Clark & Lunn Investment Management Ltd. raised its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 683.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,553 shares of the semiconductor company's stock after purchasing an additional 220,304 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.44% of SolarEdge Technologies worth $5,786,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the business. Yelin Lapidot Holdings Management Ltd. grew its stake in SolarEdge Technologies by 5.1% during the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 11,654 shares of the semiconductor company's stock valued at $294,000 after acquiring an additional 564 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of SolarEdge Technologies by 2.5% in the 2nd 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 last quarter. Bank Hapoalim BM lifted its holdings in shares of SolarEdge Technologies by 2.5% in the 3rd quarter. Bank Hapoalim BM now owns 33,573 shares of the semiconductor company's stock worth $769,000 after acquiring an additional 812 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of SolarEdge Technologies by 1.6% in the 1st quarter. California State Teachers Retirement System now owns 51,728 shares of the semiconductor company's stock worth $3,672,000 after acquiring an additional 827 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in SolarEdge Technologies during the 1st quarter valued at $64,000. Hedge funds and other institutional investors own 95.10% of the company's stock.
SolarEdge Technologies Stock Up 10.7 %
NASDAQ:SEDG opened at $11.88 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.46 and a current ratio of 2.34. SolarEdge Technologies, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $103.15. The firm has a 50-day simple moving average of $17.58 and a two-hundred day simple moving average of $27.96.
SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) earnings per share 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 the consensus estimate of $272.80 million. SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The firm's revenue for the quarter was down 64.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.03) earnings per share. On average, analysts forecast that SolarEdge Technologies, Inc. will post -19.05 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Canaccord Genuity Group lowered their price target on shares of SolarEdge Technologies from $38.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, August 8th. Glj Research lowered shares of SolarEdge Technologies from a "strong-buy" rating to a "strong sell" rating in a report on Tuesday, October 8th. Scotiabank lowered their price target on shares of SolarEdge Technologies from $46.00 to $41.00 and set a "sector perform" rating for the company in a report on Thursday, August 8th. StockNews.com upgraded shares of SolarEdge Technologies to a "sell" rating in a report on Friday, November 8th. Finally, TD Cowen decreased their price objective on shares of SolarEdge Technologies from $16.00 to $11.00 and set a "hold" rating for the company in a report on Thursday, November 7th. Nine analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $22.79.
Read Our Latest Report on SolarEdge Technologies
Insider Buying and Selling at SolarEdge Technologies
In related news, Chairman More Avery purchased 156,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $13.65 per share, with a total value of $2,129,400.00. Following the acquisition, the chairman now directly owns 244,478 shares in the company, valued at $3,337,124.70. The trade was a 176.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is owned by company insiders.
SolarEdge Technologies Profile
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Free Report)
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.
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