Stratos Wealth Partners LTD. Reduces Holdings in SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Stratos Wealth Partners LTD. decreased its position in SolarEdge Technologies, Inc. (NASDAQ:SEDG – Get Rating) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,738 shares of the semiconductor company’s stock after selling 311 shares during the period. Stratos Wealth Partners LTD.’s holdings in SolarEdge Technologies were worth $476,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SEDG. Elequin Capital LP purchased a new stake in shares of SolarEdge Technologies in the 1st quarter valued at approximately $32,000. First Horizon Advisors Inc. lifted its holdings in shares of SolarEdge Technologies by 274.1% in the 1st quarter. First Horizon Advisors Inc. now owns 101 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of SolarEdge Technologies by 1,140.0% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 124 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 114 shares during the last quarter. Addison Advisors LLC acquired a new position in shares of SolarEdge Technologies in the 1st quarter worth approximately $37,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of SolarEdge Technologies in the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

SEDG has been the topic of several recent analyst reports. StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a report on Saturday, July 2nd. Barclays initiated coverage on shares of SolarEdge Technologies in a report on Friday, August 5th. They issued an “equal weight” rating and a $389.00 price objective on the stock. Guggenheim upped their price objective on shares of SolarEdge Technologies from $348.00 to $389.00 in a report on Wednesday, August 3rd. TheStreet lowered shares of SolarEdge Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, September 28th. Finally, Morgan Stanley increased their target price on shares of SolarEdge Technologies from $316.00 to $352.00 and gave the stock an “equal weight” rating in a report on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $359.68.

SolarEdge Technologies Trading Down 0.8%

NASDAQ SEDG opened at $207.84 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.73 and a quick ratio of 2.96. The firm’s fifty day moving average price is $285.57 and its 200 day moving average price is $282.92. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 81.19, a price-to-earnings-growth ratio of 1.78 and a beta of 1.29. SolarEdge Technologies, Inc. has a 12 month low of $200.86 and a 12 month high of $389.71.

SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last posted its earnings results on Tuesday, August 2nd. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.53). The company had revenue of $727.77 million during the quarter, compared to analysts’ expectations of $725.75 million. SolarEdge Technologies had a net margin of 5.78% and a return on equity of 8.56%. On average, sell-side analysts expect that SolarEdge Technologies, Inc. will post 4.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SolarEdge Technologies news, Director More Avery sold 46,319 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $82.70, for a total transaction of $3,830,581.30. Following the transaction, the director now directly owns 543,782 shares of the company’s stock, valued at approximately $44,970,771.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SolarEdge Technologies news, VP Meir Adest sold 1,352 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $300.68, for a total transaction of $406,519.36. Following the transaction, the vice president now directly owns 182,309 shares of the company’s stock, valued at approximately $54,816,670.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director More Avery sold 46,319 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $82.70, for a total transaction of $3,830,581.30. Following the transaction, the director now directly owns 543,782 shares in the company, valued at $44,970,771.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 69.571 shares of company stock valued at $10,183,247. Insiders own 1.17% of the company’s stock.

SolarEdge Technologies Company Profile

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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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