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

SolarEdge Technologies, Inc. (NASDAQ:SEDG) – KeyCorp issued their Q1 2024 earnings per share (EPS) estimates for shares of SolarEdge Technologies in a report issued on Monday, April 22nd. KeyCorp analyst S. Karp expects that the semiconductor company will post earnings per share of ($2.11) 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.

Other equities analysts also recently issued reports about the company. DZ Bank initiated coverage on SolarEdge Technologies in a research note on Wednesday, April 17th. They issued a “hold” rating and a $62.00 price target on the stock. Canaccord Genuity Group restated a “hold” rating and issued a $75.00 price target on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. StockNews.com upgraded SolarEdge Technologies to a “sell” rating in a research note on Thursday, December 28th. Scotiabank dropped their price target on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 21st. Finally, Piper Sandler dropped their price target on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $98.38.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $56.61 on Thursday. The business’s fifty day simple moving average is $67.93 and its two-hundred day simple moving average is $78.13. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. SolarEdge Technologies has a 12 month low of $53.59 and a 12 month high of $315.34. The company 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 issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, beating the consensus estimate of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The business had revenue of $316.04 million for the quarter, compared to the consensus estimate of $319.97 million.

Insider Buying and Selling at SolarEdge Technologies

In other news, Director More Avery bought 7,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $67.75 per share, with a total value of $474,250.00. Following the completion of the acquisition, the director now owns 77,446 shares of the company’s stock, valued at approximately $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several large investors have recently made changes to their positions in the company. Yelin Lapidot Holdings Management Ltd. increased its holdings in shares of SolarEdge Technologies by 0.6% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 21,513 shares of the semiconductor company’s stock worth $2,014,000 after purchasing an additional 130 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in SolarEdge Technologies by 9.4% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,684 shares of the semiconductor company’s stock worth $218,000 after acquiring an additional 145 shares in the last quarter. Liberty One Investment Management LLC grew its position in SolarEdge Technologies by 4.2% in the fourth quarter. Liberty One Investment Management LLC now owns 3,683 shares of the semiconductor company’s stock worth $345,000 after acquiring an additional 148 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in SolarEdge Technologies by 194.7% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 183 shares in the last quarter. Finally, South Street Advisors LLC grew its position in SolarEdge Technologies by 2.9% in the third quarter. South Street Advisors LLC now owns 6,512 shares of the semiconductor company’s stock worth $843,000 after acquiring an additional 185 shares in the last quarter. 95.10% of the stock is 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.