Solaredge Technologies Inc (SEDG) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Solaredge Technologies Inc (NASDAQ:SEDG) by 2.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 309,560 shares of the semiconductor company’s stock after acquiring an additional 8,679 shares during the period. Bank of New York Mellon Corp’s holdings in Solaredge Technologies were worth $14,811,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Solaredge Technologies by 13.0% during the second quarter. BlackRock Inc. now owns 3,708,519 shares of the semiconductor company’s stock valued at $177,453,000 after acquiring an additional 426,231 shares in the last quarter. Rational Advisors LLC raised its stake in shares of Solaredge Technologies by 178.6% during the second quarter. Rational Advisors LLC now owns 23,400 shares of the semiconductor company’s stock valued at $1,120,000 after acquiring an additional 15,000 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Solaredge Technologies by 5.9% during the second quarter. First Trust Advisors LP now owns 71,652 shares of the semiconductor company’s stock valued at $3,429,000 after acquiring an additional 3,979 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Solaredge Technologies by 12.0% during the second quarter. Legal & General Group Plc now owns 77,180 shares of the semiconductor company’s stock valued at $3,738,000 after acquiring an additional 8,246 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in shares of Solaredge Technologies by 7,753.6% during the second quarter. OppenheimerFunds Inc. now owns 536,084 shares of the semiconductor company’s stock valued at $25,651,000 after acquiring an additional 529,258 shares in the last quarter. 79.78% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the stock. BidaskClub downgraded shares of Solaredge Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Zacks Investment Research downgraded shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. set a $63.00 price target on shares of Solaredge Technologies and gave the company a “buy” rating in a research note on Wednesday, September 19th. Roth Capital decreased their price target on shares of Solaredge Technologies from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, November 30th. Finally, ValuEngine raised shares of Solaredge Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, November 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.17.

Shares of NASDAQ:SEDG opened at $38.54 on Thursday. The company has a market capitalization of $1.78 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 0.66 and a beta of -0.42. Solaredge Technologies Inc has a 52 week low of $30.80 and a 52 week high of $70.74.

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

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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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