Brendel Financial Advisors LLC acquired a new position in Solaredge Technologies Inc (NASDAQ:SEDG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,058 shares of the semiconductor company’s stock, valued at approximately $2,090,000. Solaredge Technologies comprises 1.8% of Brendel Financial Advisors LLC’s investment portfolio, making the stock its 24th biggest holding.
Several other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in shares of Solaredge Technologies by 2.3% in the 1st quarter. First Trust Advisors LP now owns 70,405 shares of the semiconductor company’s stock worth $2,653,000 after buying an additional 1,581 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Solaredge Technologies during the 4th quarter worth approximately $212,000. Advisors Asset Management Inc. raised its holdings in shares of Solaredge Technologies by 37.8% in the 4th quarter. Advisors Asset Management Inc. now owns 4,748 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 1,302 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in Solaredge Technologies by 0.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,145 shares of the semiconductor company’s stock valued at $1,672,000 after purchasing an additional 141 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Solaredge Technologies by 22.0% during the fourth quarter. Alliancebernstein L.P. now owns 102,738 shares of the semiconductor company’s stock valued at $9,769,000 after purchasing an additional 18,541 shares during the period. Institutional investors own 81.44% of the company’s stock.
NASDAQ SEDG traded down $0.16 during trading hours on Friday, reaching $175.10. 640,477 shares of the stock traded hands, compared to its average volume of 948,500. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.45 and a quick ratio of 1.94. The stock has a 50 day simple moving average of $155.57 and a two-hundred day simple moving average of $121.77. Solaredge Technologies Inc has a 1 year low of $60.93 and a 1 year high of $181.80. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 52.11, a price-to-earnings-growth ratio of 2.61 and a beta of 0.71.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.02 by ($0.07). The firm had revenue of $431.22 million for the quarter, compared to analysts’ expectations of $422.16 million. Solaredge Technologies had a net margin of 10.71% and a return on equity of 21.94%. The business’s quarterly revenue was up 58.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. On average, sell-side analysts forecast that Solaredge Technologies Inc will post 2.69 EPS for the current fiscal year.
Several equities research analysts recently weighed in on SEDG shares. Zacks Investment Research raised Solaredge Technologies from a “sell” rating to a “hold” rating in a report on Monday, May 4th. Johnson Rice began coverage on shares of Solaredge Technologies in a report on Wednesday, May 27th. They issued an “accumulate” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Solaredge Technologies from $131.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Roth Capital lifted their price target on Solaredge Technologies from $140.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, BidaskClub raised Solaredge Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $137.80.
In related news, CFO Ronen Faier sold 23,199 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $135.70, for a total transaction of $3,148,104.30. Following the transaction, the chief financial officer now directly owns 91,474 shares in the company, valued at approximately $12,413,021.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Lior Handelsman sold 200 shares of Solaredge Technologies stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $155.04, for a total value of $31,008.00. Following the completion of the transaction, the vice president now directly owns 48,193 shares in the company, valued at $7,471,842.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,263 shares of company stock valued at $8,961,154. Company insiders own 2.90% of the company’s stock.
About Solaredge Technologies
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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