Solaredge Technologies Inc (SEDG) Stake Maintained by CWA Asset Management Group LLC
CWA Asset Management Group LLC maintained its position in shares of Solaredge Technologies Inc (NASDAQ:SEDG) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,265 shares of the semiconductor company’s stock at the end of the second quarter. CWA Asset Management Group LLC’s holdings in Solaredge Technologies were worth $225,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sei Investments Co. raised its position in shares of Solaredge Technologies by 380.4% in the 2nd quarter. Sei Investments Co. now owns 6,005 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 4,755 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Solaredge Technologies in the 1st quarter worth about $173,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Solaredge Technologies in the 1st quarter worth about $178,000. KCG Holdings Inc. purchased a new position in shares of Solaredge Technologies in the 1st quarter worth about $222,000. Finally, Aviance Capital Management LLC purchased a new position in shares of Solaredge Technologies in the 1st quarter worth about $227,000. 57.80% of the stock is owned by hedge funds and other institutional investors.
Solaredge Technologies Inc (NASDAQ:SEDG) remained flat at $26.40 during midday trading on Wednesday. The stock had a trading volume of 162,325 shares. The company’s 50-day moving average price is $24.85 and its 200-day moving average price is $16.06. The firm has a market capitalization of $1.11 billion and a P/E ratio of 23.40. Solaredge Technologies Inc has a 12-month low of $11.35 and a 12-month high of $26.55.
Solaredge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.18. Solaredge Technologies had a return on equity of 28.13% and a net margin of 16.55%. The company had revenue of $136.10 million during the quarter, compared to analysts’ expectations of $125.07 million. During the same period last year, the business posted $0.44 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Solaredge Technologies Inc will post $1.84 earnings per share for the current fiscal year.
In other Solaredge Technologies news, VP Zvi Lando sold 10,000 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $20.49, for a total value of $204,900.00. Following the completion of the sale, the vice president now directly owns 56,011 shares in the company, valued at $1,147,665.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Doron Inbar sold 50,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $28.00, for a total value of $1,400,000.00. Following the completion of the sale, the director now owns 223,333 shares of the company’s stock, valued at $6,253,324. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,000 shares of company stock valued at $3,753,054. 16.40% of the stock is currently owned by company insiders.
Several research firms have recently issued reports on SEDG. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Solaredge Technologies in a research report on Tuesday. Axiom Securities reaffirmed a “sell” rating on shares of Solaredge Technologies in a research report on Thursday, August 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $30.00 price target (up previously from $25.00) on shares of Solaredge Technologies in a research report on Wednesday, August 9th. Barclays PLC reaffirmed an “overweight” rating and issued a $28.00 price target (up previously from $21.00) on shares of Solaredge Technologies in a research report on Wednesday, August 9th. Finally, BidaskClub raised Solaredge Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the stock. Solaredge Technologies presently has an average rating of “Buy” and an average target price of $23.11.
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Solaredge Technologies Profile
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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