On June 19, 2023, Guinness Asset Management LTD made headlines for lifting its stake in SolarEdge Technologies, Inc. by 12.2%. According to the company’s most recent 13F filing with the Securities & Exchange Commission (SEC), the institutional investor now owns approximately 0.17% of SolarEdge Technologies worth a staggering $28,449,000. This news marks an important milestone for both companies and is sure to have significant implications for the semiconductor industry.
SolarEdge Technologies had recently issued its quarterly earnings report on May 3rd, which revealed that it had recorded $2.36 earnings per share (EPS) for the quarter. This was a significant improvement over analysts’ consensus estimates of $1.51 EPS and marked an impressive triumph for SolarEdge Technologies amidst the challenging economic climate.
The company operates in two segments: Solar and All Other segments. It specializes in designing, developing and selling direct current optimized inverter systems ideal for solar photovoltaic installations around the world. These include inverters, power optimizers, communication devices, and smart energy management solutions designed for residential, commercial and small utility-scale solar installations.
With a cloud-based monitoring platform that collects and processes data from power optimizers and inverters across solar PV systems worldwide; SolarEdge’s ability to sustainably innovate stands among their unique selling propositions; it remains evident why Guinness Asset Management would get into bed with such an evergreen entity.
Investors predict that SEDG will post 8.76 EPS this fiscal year based on their current financial standings and development strategies. As technology continuously develops market dynamics are bound to change at any moment; therefore SEDG has continually worked tirelessly behind doors to surmount all hindrances so as always stay ahead of competitors.
The semiconductor industry continues to garner attention from investors who recognize its immense growth potential across various sectors including renewable energy sources like solar PV systems that attract many green enthusiasts globally. The industry leader, SolarEdge Technologies, remains a significant player in this field with its aggressive efforts to sustainably innovate and make an impact.
In conclusion, the increase in stake by Guinness Asset Management LTD is an indication of great confidence in SolarEdge Technologies’ growth potential within the semiconductor space. With a focus on innovation and sustainable solutions, SolarEdge Technologies continues to redefine the power grid. Investors must keenly watch this entity and how they constantly raise their game while keeping up with changing market trends.
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SolarEdge Technologies: Institutional Investors Show Confidence with Increased Stake
SolarEdge Technologies, Inc. is a prominent semiconductor company that designs and develops direct current (DC) optimized inverter systems for solar photovoltaic installations on a global scale. Over the past few quarters, there have been changes to certain institutional investors’ positions in the stock. Trust Co. of Vermont increased its stake by 3.7%, owning a total of 976 shares worth $276,000 after acquiring an additional 35 shares in the last quarter.
Similarly, Captrust Financial Advisors also lifted its position in SolarEdge Technologies by 3.5% during the same period and now owns 1,162 shares worth $329,000. Sentry Investment Management LLC increased their holdings by 12.2%, and Sumitomo Mitsui DS Asset Management Company Ltd improved its position by 1%. Oregon Public Employees Retirement Fund lifted its holdings by 1.1%. Institutional investors now own 83.23% of the stock.
Shares of SEDG opened at $276.70 on June 19th, 2023. The company’s market capitalization currently stands at $15.59 billion with a PEG ratio of 0.95 and beta of 1.42; it has traded between a high of $375.90 and a low of $190.15 in the last year.
Aside from offering inverters, power optimizers, communication devices, and smart energy management solutions utilized across commercial and small utility-scale solar installations, SolarEdge offers a cloud-based monitoring platform that collects and processes information derived from power optimizers and inverters while monitoring & managing the solar PV system.
Insider Meir Adest recently sold out his personal stock totaling to figures as high satdred et seven thousand dollars ($752150). Despite this move insiders still hold over one percent (1%) of this semiconductor company’s stock which is quite encouraging for prospective investors evaluating whether or not to buy into SolarEdge Technologies, Inc.
Several equity analysts have recently weighed in on the company, such as TheStreet which moved its rating from a ‘C’ to a ‘B-‘ rating; and HSBC that assumed coverage of SEDG stock on Thursday, April 13th and set a “buy” rating along with a price target of $418.00 on the stock.
Morgan Stanley recently reissued an “equal weight” rating while Truist Financial increased their price target for SolarEdge Technologies from $370.00 to $380.00 in a report released on Friday, May 5th. Overall, Bloomberg reports that analyst coverage equates to one sell rating, five hold ratings and fourteen buy ratings for this semiconductor company. SEDG currently carries a consensus “Moderate Buy” rating along with an average target price of $374.26 per share; convincing indicators to invest into SolarEdge Technologies as a promising option for prospective investors looking into the semiconductor market.