SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD trimmed its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,973 shares of the semiconductor company's stock after selling 24,017 shares during the quarter. Guinness Asset Management LTD owned 0.13% of SolarEdge Technologies worth $1,033,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Quarry LP bought a new stake in SolarEdge Technologies during the 2nd quarter valued at about $36,627,000. Two Sigma Advisers LP boosted its holdings in shares of SolarEdge Technologies by 0.3% in the third quarter. Two Sigma Advisers LP now owns 1,142,100 shares of the semiconductor company's stock valued at $26,166,000 after purchasing an additional 3,400 shares during the period. M&G PLC grew its stake in SolarEdge Technologies by 4.2% in the third quarter. M&G PLC now owns 932,711 shares of the semiconductor company's stock worth $21,452,000 after purchasing an additional 38,001 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in SolarEdge Technologies by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 874,113 shares of the semiconductor company's stock worth $11,888,000 after purchasing an additional 564,490 shares during the period. Finally, Geode Capital Management LLC increased its holdings in SolarEdge Technologies by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 708,044 shares of the semiconductor company's stock worth $16,227,000 after purchasing an additional 25,474 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.

SolarEdge Technologies Price Performance

NASDAQ SEDG traded down $0.30 during mid-day trading on Monday, hitting $13.91. The stock had a trading volume of 2,963,570 shares, compared to its average volume of 4,715,881. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $87.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46. The firm's 50 day moving average is $13.81 and its 200 day moving average is $19.30. The stock has a market capitalization of $806.08 million, a price-to-earnings ratio of -0.48 and a beta of 1.56.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $260.90 million for the quarter, compared to analyst estimates of $272.80 million. SolarEdge Technologies had a negative return on equity of 65.79% and a negative net margin of 158.19%. The business's revenue was down 64.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.03) earnings per share. Equities research analysts forecast that SolarEdge Technologies, Inc. will post -23.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays raised their price target on SolarEdge Technologies from $7.00 to $10.00 and gave the company an "underweight" rating in a research note on Tuesday, January 14th. Canaccord Genuity Group upped their price target on shares of SolarEdge Technologies from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Tuesday, January 7th. StockNews.com raised shares of SolarEdge Technologies to a "sell" rating in a report on Friday, November 8th. Wells Fargo & Company lowered their target price on SolarEdge Technologies from $19.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, January 8th. Finally, Bank of America downgraded SolarEdge Technologies from a "neutral" rating to an "underperform" rating and cut their price target for the company from $21.00 to $14.00 in a report on Thursday, November 7th. Eight analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $21.24.

Insider Activity at SolarEdge Technologies

In other news, Chairman More Avery purchased 156,000 shares of the business's stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $13.65 per share, for a total transaction of $2,129,400.00. Following the acquisition, the chairman now directly owns 244,478 shares of the company's stock, valued at approximately $3,337,124.70. This represents a 176.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.67% of the company's stock.

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.