Charles Schwab Investment Management Inc. Sells 72,349 Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Charles Schwab Investment Management Inc. lessened its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 16.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 376,195 shares of the semiconductor company's stock after selling 72,349 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.66% of SolarEdge Technologies worth $8,619,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SEDG. International Assets Investment Management LLC purchased a new position in shares of SolarEdge Technologies during the second quarter valued at approximately $28,000. KBC Group NV raised its position in shares of SolarEdge Technologies by 95.8% in the 3rd quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 1,378 shares during the last quarter. First Pacific Financial raised its position in shares of SolarEdge Technologies by 53.0% in the 2nd quarter. First Pacific Financial now owns 5,208 shares of the semiconductor company's stock worth $132,000 after purchasing an additional 1,805 shares during the last quarter. US Bancorp DE raised its holdings in SolarEdge Technologies by 243.6% in the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock worth $156,000 after buying an additional 4,834 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in SolarEdge Technologies in the third quarter worth about $229,000. Hedge funds and other institutional investors own 95.10% of the company's stock.

SolarEdge Technologies Price Performance

Shares of SEDG traded up $0.32 during trading hours on Wednesday, reaching $14.41. 2,202,353 shares of the stock traded hands, compared to its average volume of 3,653,638. The company has a current ratio of 2.34, a quick ratio of 1.46 and a debt-to-equity ratio of 0.39. SolarEdge Technologies, Inc. has a 52-week low of $10.24 and a 52-week high of $103.15. The company's 50-day moving average price is $15.66 and its two-hundred day moving average price is $24.16. The company has a market cap of $835.06 million, a P/E ratio of -0.47 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($15.33) EPS for the quarter, missing the consensus estimate of ($1.55) by ($13.78). SolarEdge Technologies had a negative net margin of 158.19% and a negative return on equity of 65.79%. The business had revenue of $260.90 million during the quarter, compared to analysts' expectations of $272.80 million. During the same quarter in the previous year, the firm earned ($1.03) earnings per share. SolarEdge Technologies's revenue was down 64.0% on a year-over-year basis. On average, analysts anticipate that SolarEdge Technologies, Inc. will post -19.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SEDG shares. TD Cowen decreased their target price 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. Barclays decreased their price target on SolarEdge Technologies from $17.00 to $7.00 and set an "underperform" rating for the company in a research note on Friday, November 15th. Truist Financial decreased their price target on SolarEdge Technologies from $20.00 to $15.00 and set a "hold" rating for the company in a research note on Friday, November 8th. Citigroup decreased their target price on SolarEdge Technologies from $31.00 to $19.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Finally, StockNews.com raised SolarEdge Technologies to a "sell" rating in a research report on Friday, November 8th. Nine research 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. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of "Hold" and a consensus target price of $22.04.

Insider Buying and Selling

In other news, Chairman More Avery purchased 156,000 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $13.65 per share, with a total value of $2,129,400.00. Following the completion of the purchase, the chairman now owns 244,478 shares in the company, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.67% of the stock is owned by insiders.

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.