FDx Advisors Inc. Has $671,000 Stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Posted by on May 22nd, 2023

FDx Advisors Inc. trimmed its holdings in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 14.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,369 shares of the semiconductor company’s stock after selling 387 shares during the period. FDx Advisors Inc.’s holdings in SolarEdge Technologies were worth $671,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SEDG. Panagora Asset Management Inc. increased its holdings in SolarEdge Technologies by 28.3% during the 1st quarter. Panagora Asset Management Inc. now owns 2,254 shares of the semiconductor company’s stock valued at $727,000 after purchasing an additional 497 shares in the last quarter. Rhumbline Advisers increased its stake in shares of SolarEdge Technologies by 2.7% in the 1st quarter. Rhumbline Advisers now owns 44,407 shares of the semiconductor company’s stock valued at $14,315,000 after buying an additional 1,174 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of SolarEdge Technologies by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,027 shares of the semiconductor company’s stock valued at $2,265,000 after buying an additional 435 shares during the period. Cibc World Market Inc. increased its stake in shares of SolarEdge Technologies by 28.5% in the 1st quarter. Cibc World Market Inc. now owns 4,844 shares of the semiconductor company’s stock valued at $1,562,000 after buying an additional 1,073 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of SolarEdge Technologies by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 210,973 shares of the semiconductor company’s stock valued at $68,007,000 after buying an additional 1,902 shares during the period. 80.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on SEDG shares. TheStreet raised SolarEdge Technologies from a “c” rating to a “b-” rating in a research note on Wednesday, May 3rd. BMO Capital Markets lifted their price objective on SolarEdge Technologies from $370.00 to $395.00 in a research note on Thursday, May 4th. StockNews.com assumed coverage on SolarEdge Technologies in a research note on Thursday. They set a “hold” rating for the company. HSBC assumed coverage on SolarEdge Technologies in a research note on Thursday, April 13th. They set a “buy” rating and a $418.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $370.00 price objective (down from $374.00) on shares of SolarEdge Technologies in a research note on Monday, April 3rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, SolarEdge Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.37.

SolarEdge Technologies Stock Performance

Shares of SolarEdge Technologies stock opened at $295.92 on Monday. The firm has a market cap of $16.68 billion, a price-to-earnings ratio of 87.04, a price-to-earnings-growth ratio of 1.04 and a beta of 1.42. The stock’s 50-day moving average is $293.75 and its 200-day moving average is $299.38. SolarEdge Technologies, Inc. has a one year low of $190.15 and a one year high of $375.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.60 and a quick ratio of 2.63.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last released its earnings results on Wednesday, May 3rd. The semiconductor company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.85. SolarEdge Technologies had a return on equity of 14.49% and a net margin of 5.86%. The business had revenue of $943.89 million for the quarter, compared to analyst estimates of $929.37 million. Equities analysts predict that SolarEdge Technologies, Inc. will post 8.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Meir Adest sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $300.86, for a total transaction of $752,150.00. Following the sale, the insider now owns 131,677 shares in the company, valued at $39,616,342.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.17% of the stock is currently owned by corporate insiders.

SolarEdge Technologies Company Profile

(Get Rating)

SolarEdge Technologies, Inc engages in the development of energy technology, which provides inverter solutions. The firm operates through the following segments: Solar and All Other. The Solar segment includes the design, development, manufacturing, and sales of an inverter solution designed to maximize power generation.

Further Reading

Institutional Ownership by Quarter for SolarEdge Technologies (NASDAQ:SEDG)

Receive News & Ratings for SolarEdge Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SolarEdge Technologies and related companies with MarketBeat.com's FREE daily email newsletter.