KCS Wealth Advisory cut its stake in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,106 shares of the semiconductor company’s stock after selling 225 shares during the period. KCS Wealth Advisory’s holdings in Solaredge Technologies were worth $200,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in SEDG. Pathstone Family Office LLC bought a new position in shares of Solaredge Technologies in the second quarter worth approximately $31,000. Winslow Evans & Crocker Inc. increased its position in shares of Solaredge Technologies by 376.7% in the third quarter. Winslow Evans & Crocker Inc. now owns 410 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 324 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Solaredge Technologies in the third quarter worth approximately $38,000. Gradient Investments LLC bought a new position in shares of Solaredge Technologies in the third quarter worth approximately $42,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Solaredge Technologies in the third quarter worth approximately $54,000. Hedge funds and other institutional investors own 79.76% of the company’s stock.
Several research firms recently weighed in on SEDG. Northland Securities began coverage on shares of Solaredge Technologies in a research report on Tuesday, November 26th. They issued a “buy” rating and a $102.00 price objective on the stock. Zacks Investment Research cut shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Cascend Securities upped their price objective on shares of Solaredge Technologies from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Cowen restated a “buy” rating and issued a $118.00 price objective on shares of Solaredge Technologies in a research report on Monday, December 16th. Finally, Credit Suisse Group increased their price target on shares of Solaredge Technologies from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Solaredge Technologies currently has a consensus rating of “Buy” and a consensus target price of $93.31.
In other news, VP Yoav Galin sold 1,070 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $105.46, for a total transaction of $112,842.20. Following the completion of the sale, the vice president now owns 165,855 shares of the company’s stock, valued at $17,491,068.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Zvi Lando sold 28,603 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $77.95, for a total value of $2,229,603.85. Insiders have sold 143,312 shares of company stock worth $12,924,417 over the last quarter. Company insiders own 7.90% of the company’s stock.
Shares of NASDAQ SEDG opened at $103.61 on Thursday. Solaredge Technologies Inc has a one year low of $35.56 and a one year high of $106.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.09. The firm’s 50 day simple moving average is $92.98 and its two-hundred day simple moving average is $81.56. The stock has a market capitalization of $5.04 billion, a P/E ratio of 38.52, a PEG ratio of 1.11 and a beta of 0.06.
Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.22. Solaredge Technologies had a net margin of 8.39% and a return on equity of 15.89%. The business had revenue of $410.56 million for the quarter, compared to analysts’ expectations of $402.89 million. During the same period last year, the business earned $0.86 earnings per share. The business’s quarterly revenue was up 73.5% on a year-over-year basis. As a group, equities analysts expect that Solaredge Technologies Inc will post 3 earnings per share for the current fiscal year.
Solaredge Technologies Company Profile
SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.
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