Stratos Wealth Partners LTD. reduced its stake in Solaredge Technologies Inc (NASDAQ:SEDG) by 49.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,732 shares of the semiconductor company’s stock after selling 2,677 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Solaredge Technologies were worth $103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Solaredge Technologies by 13.0% during the 2nd quarter. BlackRock Inc. now owns 3,708,519 shares of the semiconductor company’s stock valued at $177,453,000 after purchasing an additional 426,231 shares during the last quarter. Rational Advisors LLC grew its stake in shares of Solaredge Technologies by 178.6% during the 2nd quarter. Rational Advisors LLC now owns 23,400 shares of the semiconductor company’s stock worth $1,120,000 after acquiring an additional 15,000 shares during the period. Menora Mivtachim Holdings LTD. grew its stake in shares of Solaredge Technologies by 56.2% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 3,139,422 shares of the semiconductor company’s stock worth $150,221,000 after acquiring an additional 1,129,338 shares during the period. First Trust Advisors LP grew its stake in shares of Solaredge Technologies by 5.9% during the 2nd quarter. First Trust Advisors LP now owns 71,652 shares of the semiconductor company’s stock worth $3,429,000 after acquiring an additional 3,979 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Solaredge Technologies by 12.0% during the 2nd quarter. Legal & General Group Plc now owns 77,180 shares of the semiconductor company’s stock worth $3,738,000 after acquiring an additional 8,246 shares during the period. 79.23% of the stock is owned by institutional investors and hedge funds.

NASDAQ SEDG opened at $38.51 on Tuesday. The stock has a market capitalization of $1.77 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 0.64 and a beta of -0.41. Solaredge Technologies Inc has a twelve month low of $30.80 and a twelve month high of $70.74.

Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Solaredge Technologies had a return on equity of 33.12% and a net margin of 15.69%. The company had revenue of $236.60 million during the quarter, compared to analyst estimates of $234.19 million. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was up 42.1% on a year-over-year basis. On average, research analysts forecast that Solaredge Technologies Inc will post 2.73 EPS for the current year.

SEDG has been the subject of several analyst reports. JPMorgan Chase & Co. set a $63.00 target price on Solaredge Technologies and gave the stock a “buy” rating in a research note on Wednesday, September 19th. BidaskClub downgraded Solaredge Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 29th. Vertical Group set a $29.00 target price on Solaredge Technologies and gave the stock a “sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded Solaredge Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Finally, ValuEngine downgraded Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $55.00.

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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 in Israel, the United States, the Netherlands, Europe, and internationally. The company's DC optimized inverter systems include power optimizers and inverters, as well as a cloud-based monitoring platform.

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Institutional Ownership by Quarter for Solaredge Technologies (NASDAQ:SEDG)

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