Equities Analysts Set Expectations for SolarEdge Technologies, Inc.’s Q1 2024 Earnings (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG) – Equities researchers at KeyCorp issued their Q1 2024 EPS estimates for SolarEdge Technologies in a research report issued on Monday, April 22nd. KeyCorp analyst S. Karp forecasts that the semiconductor company will post earnings of ($2.11) per share for the quarter. The consensus estimate for SolarEdge Technologies’ current full-year earnings is ($4.17) per share. KeyCorp also issued estimates for SolarEdge Technologies’ Q2 2024 earnings at ($1.69) EPS, Q3 2024 earnings at ($0.78) EPS and Q4 2024 earnings at ($0.20) EPS.

A number of other brokerages have also issued reports on SEDG. DZ Bank began coverage on shares of SolarEdge Technologies in a research note on Wednesday, April 17th. They set a “hold” rating and a $62.00 price target on the stock. Truist Financial lowered their target price on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Citigroup lowered their target price on shares of SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 21st. Royal Bank of Canada lowered their target price on shares of SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 21st. Finally, Susquehanna lowered their target price on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $98.38.

SolarEdge Technologies Trading Down 2.2 %

Shares of SolarEdge Technologies stock opened at $56.61 on Thursday. SolarEdge Technologies has a 52-week low of $53.59 and a 52-week high of $315.34. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The company’s 50-day simple moving average is $67.93 and its 200-day simple moving average is $78.13. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 125.80 and a beta of 1.51.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. The firm had revenue of $316.04 million during the quarter, compared to analysts’ expectations of $319.97 million.

Insider Activity

In other news, Director More Avery acquired 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the transaction, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional Trading of SolarEdge Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of SolarEdge Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock worth $327,566,000 after buying an additional 92,230 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of SolarEdge Technologies by 89.3% during the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after buying an additional 835,290 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of SolarEdge Technologies by 108.5% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after buying an additional 778,034 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of SolarEdge Technologies by 10.0% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock worth $92,210,000 after buying an additional 89,279 shares in the last quarter. Finally, Impax Asset Management Group plc grew its stake in shares of SolarEdge Technologies by 1.6% in the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after purchasing an additional 14,878 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.