Baillie Gifford & Co. Lowers Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Baillie Gifford & Co. reduced its stake in SolarEdge Technologies, Inc. (NASDAQ:SEDG) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,722,886 shares of the semiconductor company’s stock after selling 10,774 shares during the period. Baillie Gifford & Co.’s holdings in SolarEdge Technologies were worth $43,520,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SEDG. Manchester Capital Management LLC raised its position in shares of SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 269 shares during the last quarter. GAMMA Investing LLC bought a new stake in SolarEdge Technologies during the 4th quarter valued at about $30,000. Versant Capital Management Inc increased its stake in SolarEdge Technologies by 1,066.7% during the 1st quarter. Versant Capital Management Inc now owns 700 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 640 shares in the last quarter. EntryPoint Capital LLC purchased a new position in SolarEdge Technologies in the first quarter worth about $64,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of SolarEdge Technologies by 120.8% in the first quarter. Hexagon Capital Partners LLC now owns 1,115 shares of the semiconductor company’s stock worth $79,000 after buying an additional 610 shares in the last quarter. 95.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SEDG shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of SolarEdge Technologies from $40.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on SolarEdge Technologies from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Truist Financial lowered their price target on SolarEdge Technologies from $60.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Northland Capmk downgraded SolarEdge Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 9th. Finally, BMO Capital Markets decreased their target price on SolarEdge Technologies from $73.00 to $56.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. Four equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.92.

SolarEdge Technologies Stock Performance

NASDAQ SEDG traded up $3.72 on Friday, hitting $28.77. 3,565,494 shares of the company traded hands, compared to its average volume of 3,201,403. The business’s 50 day moving average price is $27.10 and its 200-day moving average price is $49.79. SolarEdge Technologies, Inc. has a 52-week low of $19.81 and a 52-week high of $167.93. The company has a current ratio of 5.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -6.19 and a beta of 1.52.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.19). The company had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative return on equity of 18.00% and a negative net margin of 33.86%. The firm’s quarterly revenue was down 73.2% compared to the same quarter last year. During the same period last year, the business earned $2.06 EPS. Equities analysts expect that SolarEdge Technologies, Inc. will post -8.5 earnings per share for the current year.

SolarEdge Technologies Profile

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.