Flagship Harbor Advisors LLC Cuts Stock Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG) – Defense World
Posted by admin on Jun 26th, 2022 
Flagship Harbor Advisors LLC lowered its stake in shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 4.8% during the first quarter, HoldingsChannel.com reports. The firm owned 1,671 shares of the semiconductor company’s stock after selling 84 shares during the period. Flagship Harbor Advisors LLC’s holdings in SolarEdge Technologies were worth $539,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of SEDG. MML Investors Services LLC raised its stake in SolarEdge Technologies by 13.8% during the third quarter. MML Investors Services LLC now owns 1,946 shares of the semiconductor company’s stock worth $516,000 after purchasing an additional 236 shares during the period. LPL Financial LLC increased its position in shares of SolarEdge Technologies by 40.6% in the third quarter. LPL Financial LLC now owns 12,717 shares of the semiconductor company’s stock worth $3,373,000 after acquiring an additional 3,673 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of SolarEdge Technologies by 647.3% in the third quarter. Janus Henderson Group PLC now owns 205,920 shares of the semiconductor company’s stock worth $54,595,000 after acquiring an additional 178,365 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of SolarEdge Technologies by 7.4% in the third quarter. Cetera Advisor Networks LLC now owns 3,432 shares of the semiconductor company’s stock worth $910,000 after acquiring an additional 236 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of SolarEdge Technologies by 3.0% in the third quarter. Cetera Investment Advisers now owns 1,956 shares of the semiconductor company’s stock worth $519,000 after acquiring an additional 57 shares in the last quarter. 75.73% of the stock is currently owned by institutional investors.
SEDG has been the subject of several recent research reports. Morgan Stanley dropped their price objective on shares of SolarEdge Technologies from $333.00 to $316.00 and set an “equal weight” rating for the company in a research report on Monday, June 13th. B. Riley raised their price target on shares of SolarEdge Technologies from $297.00 to $359.00 and gave the company a “buy” rating in a report on Wednesday, March 30th. Piper Sandler lowered their price target on shares of SolarEdge Technologies from $400.00 to $385.00 in a report on Thursday, April 21st. BMO Capital Markets lowered their price target on shares of SolarEdge Technologies from $405.00 to $372.00 in a report on Tuesday, May 3rd. Finally, Citigroup raised their price target on shares of SolarEdge Technologies from $255.00 to $300.00 and gave the company a “hold” rating in a report on Tuesday, May 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, SolarEdge Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $350.81.
Shares of NASDAQ:SEDG opened at $286.34 on Friday. SolarEdge Technologies, Inc. has a fifty-two week low of $200.86 and a fifty-two week high of $389.71. The company has a market cap of $15.86 billion, a PE ratio of 91.78, a P/E/G ratio of 2.14 and a beta of 1.10. The company’s 50-day moving average price is $265.26 and its 200 day moving average price is $275.88. The company has a quick ratio of 3.57, a current ratio of 4.33 and a debt-to-equity ratio of 0.34.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last released its quarterly earnings results on Monday, May 2nd. The semiconductor company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.18). SolarEdge Technologies had a return on equity of 11.59% and a net margin of 7.78%. The company had revenue of $655.08 million for the quarter, compared to the consensus estimate of $634.70 million. As a group, equities analysts anticipate that SolarEdge Technologies, Inc. will post 4.76 EPS for the current year.
In other news, insider Meir Adest sold 5,000 shares of SolarEdge Technologies stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $263.61, for a total value of $1,318,050.00. Following the transaction, the insider now owns 186,057 shares of the company’s stock, valued at approximately $49,046,485.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zvi Lando sold 19,399 shares of SolarEdge Technologies stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $331.08, for a total transaction of $6,422,620.92. The disclosure for this sale can be found here. Insiders have sold a total of 34,460 shares of company stock worth $10,773,261 over the last 90 days. 1.60% of the stock is owned by insiders.
SolarEdge Technologies Company Profile (Get Rating)
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 through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. 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.
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