SolarEdge Technologies, Inc. (NASDAQ:SEDG) Shares Acquired by SG Americas Securities LLC

Posted by Defense World Staff on Sep 21st, 2023

SG Americas Securities LLC increased its holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Free Report) by 256.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,303 shares of the semiconductor company’s stock after acquiring an additional 7,411 shares during the quarter. SG Americas Securities LLC’s holdings in SolarEdge Technologies were worth $2,772,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of SEDG. Baillie Gifford & Co. raised its stake in SolarEdge Technologies by 2,364.6% during the first quarter. Baillie Gifford & Co. now owns 931,431 shares of the semiconductor company’s stock valued at $283,108,000 after buying an additional 893,639 shares in the last quarter. Senvest Management LLC raised its stake in SolarEdge Technologies by 124.3% during the fourth quarter. Senvest Management LLC now owns 759,071 shares of the semiconductor company’s stock valued at $215,022,000 after buying an additional 420,689 shares in the last quarter. Norges Bank acquired a new stake in SolarEdge Technologies during the fourth quarter valued at approximately $115,423,000. Price T Rowe Associates Inc. MD raised its stake in SolarEdge Technologies by 432.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 395,823 shares of the semiconductor company’s stock valued at $120,311,000 after buying an additional 321,509 shares in the last quarter. Finally, Robeco Schweiz AG acquired a new stake in shares of SolarEdge Technologies during the 1st quarter worth approximately $94,454,000. Institutional investors and hedge funds own 86.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley dropped their price target on SolarEdge Technologies from $334.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 6th. The Goldman Sachs Group dropped their price target on SolarEdge Technologies from $414.00 to $353.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. TheStreet cut SolarEdge Technologies from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. Oppenheimer dropped their price target on SolarEdge Technologies from $400.00 to $314.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. Finally, Wells Fargo & Company dropped their price target on SolarEdge Technologies from $374.00 to $253.00 in a research report on Friday, August 4th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.14.

View Our Latest Analysis on SEDG

SolarEdge Technologies Stock Performance

SEDG opened at $139.20 on Thursday. The firm has a market cap of $7.87 billion, a PE ratio of 26.92, a P/E/G ratio of 0.76 and a beta of 1.41. The company has a quick ratio of 2.75, a current ratio of 3.84 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $189.59 and a 200-day simple moving average of $253.24. SolarEdge Technologies, Inc. has a fifty-two week low of $135.72 and a fifty-two week high of $345.80.

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.01. The business had revenue of $991.29 million during the quarter, compared to analyst estimates of $989.17 million. SolarEdge Technologies had a return on equity of 18.19% and a net margin of 8.29%. As a group, equities analysts predict that SolarEdge Technologies, Inc. will post 7.36 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In other SolarEdge Technologies news, CFO Ronen Faier bought 875 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average price of $180.10 per share, with a total value of $157,587.50. Following the completion of the transaction, the chief financial officer now directly owns 73,414 shares in the company, valued at approximately $13,221,861.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.17% of the company’s stock.

SolarEdge Technologies Company Profile

(Free Report)

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.