Meitav Investment House Ltd. Acquires 51,065 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Meitav Investment House Ltd. raised its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 9.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 582,109 shares of the semiconductor company's stock after acquiring an additional 51,065 shares during the period. Meitav Investment House Ltd. owned approximately 1.02% of SolarEdge Technologies worth $13,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at about $28,000. EntryPoint Capital LLC purchased a new position in shares of SolarEdge Technologies during the 1st quarter valued at about $64,000. First Pacific Financial raised its holdings in shares of SolarEdge Technologies by 53.0% during the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company's stock valued at $132,000 after buying an additional 1,805 shares in the last quarter. GFG Capital LLC purchased a new position in shares of SolarEdge Technologies during the 3rd quarter valued at about $229,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of SolarEdge Technologies during the 1st quarter valued at about $236,000. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Stock Performance

SolarEdge Technologies stock traded up $0.17 during mid-day trading on Thursday, reaching $17.06. 2,502,102 shares of the stock traded hands, compared to its average volume of 3,321,158. The business's 50-day moving average is $20.44 and its 200-day moving average is $32.74. SolarEdge Technologies, Inc. has a 12-month low of $14.82 and a 12-month high of $103.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.10 and a quick ratio of 2.45. The stock has a market capitalization of $977.52 million, a PE ratio of -3.68 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.19). SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The company had revenue of $265.41 million for the quarter, compared to the consensus estimate of $264.31 million. During the same period in the prior year, the firm posted $2.06 EPS. The business's revenue for the quarter was down 73.2% on a year-over-year basis. As a group, sell-side analysts predict that SolarEdge Technologies, Inc. will post -8.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SEDG has been the topic of a number of research reports. Scotiabank decreased their price objective on SolarEdge Technologies from $46.00 to $41.00 and set a "sector perform" rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on SolarEdge Technologies from $35.00 to $29.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on SolarEdge Technologies from $25.00 to $19.00 and set a "sell" rating on the stock in a report on Friday, August 9th. Roth Mkm decreased their price target on SolarEdge Technologies from $23.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, October 21st. Finally, Canaccord Genuity Group decreased their price target on SolarEdge Technologies from $38.00 to $27.00 and set a "hold" rating on the stock in a research note on Thursday, August 8th. Seven analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $31.52.

About SolarEdge Technologies

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.