Stifel Financial Corp Has $543,000 Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Stifel Financial Corp lessened its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Free Report) by 72.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 23,699 shares of the semiconductor company's stock after selling 61,091 shares during the period. Stifel Financial Corp's holdings in SolarEdge Technologies were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SEDG. International Assets Investment Management LLC bought a new position in SolarEdge Technologies in the 2nd quarter worth approximately $28,000. KBC Group NV raised its position in shares of SolarEdge Technologies by 95.8% during the third quarter. KBC Group NV now owns 2,816 shares of the semiconductor company's stock worth $65,000 after acquiring an additional 1,378 shares during the last quarter. US Bancorp DE lifted its stake in shares of SolarEdge Technologies by 243.6% during the third quarter. US Bancorp DE now owns 6,818 shares of the semiconductor company's stock valued at $156,000 after acquiring an additional 4,834 shares during the period. GFG Capital LLC bought a new position in SolarEdge Technologies in the third quarter valued at about $229,000. Finally, Magnetar Financial LLC bought a new position in SolarEdge Technologies in the second quarter valued at about $286,000. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group cut their target price on shares of SolarEdge Technologies from $26.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, November 8th. William Blair started coverage on shares of SolarEdge Technologies in a report on Thursday, August 29th. They issued a "market perform" rating on the stock. Barclays lowered their target price on shares of SolarEdge Technologies from $17.00 to $7.00 and set an "underperform" rating for the company in a report on Friday, November 15th. JPMorgan Chase & Co. cut their price target on SolarEdge Technologies from $35.00 to $29.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Finally, Roth Mkm decreased their price objective on SolarEdge Technologies from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $22.40.

Insider Activity

In other news, Chairman More Avery bought 156,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $13.65 per share, for a total transaction of $2,129,400.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by corporate insiders.

SolarEdge Technologies Stock Down 5.3 %

NASDAQ:SEDG traded down $0.78 during trading hours on Friday, reaching $13.80. 4,417,482 shares of the stock were exchanged, compared to its average volume of 3,734,860. The stock has a market cap of $799.71 million, a PE ratio of -0.48 and a beta of 1.56. SolarEdge Technologies, Inc. has a twelve month low of $10.24 and a twelve month high of $97.27. The firm has a 50 day moving average of $14.34 and a 200 day moving average of $21.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.34 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its earnings results 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 return on equity of 65.79% and a negative net margin of 158.19%. The business had revenue of $260.90 million for the quarter, compared to analyst estimates of $272.80 million. During the same quarter in the previous year, the company posted ($1.03) EPS. The business's revenue for the quarter was down 64.0% compared to the same quarter last year. On average, equities analysts expect that SolarEdge Technologies, Inc. will post -19.18 earnings per share for the current year.

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.