B. Riley Research Analysts Decrease Earnings Estimates for SolarEdge Technologies, Inc. (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG) – Equities researchers at B. Riley cut their Q1 2024 earnings estimates for shares of SolarEdge Technologies in a research report issued on Monday, April 22nd. B. Riley analyst C. Souther now expects that the semiconductor company will earn ($1.75) per share for the quarter, down from their prior estimate of ($1.23). B. Riley has a “Buy” rating and a $124.00 price target on the stock. The consensus estimate for SolarEdge Technologies’ current full-year earnings is ($4.60) per share. B. Riley also issued estimates for SolarEdge Technologies’ Q2 2024 earnings at ($1.47) EPS, Q3 2024 earnings at ($1.00) EPS, Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($4.38) EPS and FY2025 earnings at $2.03 EPS.

A number of other research firms have also recently weighed in on SEDG. Truist Financial decreased their price objective on shares of SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. The Goldman Sachs Group decreased their price objective on shares of SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research report on Wednesday, January 24th. Canaccord Genuity Group began coverage on shares of SolarEdge Technologies in a research report on Tuesday, January 16th. They issued a “hold” rating and a $80.00 price objective for the company. Susquehanna decreased their price objective on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating for the company in a research report on Friday, April 5th. Finally, TD Cowen decreased their price objective on shares of SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, SolarEdge Technologies has an average rating of “Hold” and an average target price of $98.38.

SolarEdge Technologies Stock Up 2.8 %

Shares of SolarEdge Technologies stock opened at $58.20 on Thursday. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average price of $67.32 and a 200 day moving average price of $77.98. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 129.33 and a beta of 1.51. SolarEdge Technologies has a twelve month low of $53.59 and a twelve month high of $315.34.

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, topping 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 Buying and Selling

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

Institutional Investors Weigh In On SolarEdge Technologies

Large investors have recently made changes to their positions in the company. Altshuler Shaham Ltd increased its stake in shares of SolarEdge Technologies by 143.8% in the third quarter. Altshuler Shaham Ltd now owns 20,856 shares of the semiconductor company’s stock valued at $2,701,000 after purchasing an additional 12,302 shares during the period. International Assets Investment Management LLC increased its stake in shares of SolarEdge Technologies by 20,293.3% in the fourth quarter. International Assets Investment Management LLC now owns 103,802 shares of the semiconductor company’s stock valued at $9,716,000 after purchasing an additional 103,293 shares during the period. Royal London Asset Management Ltd. increased its stake in shares of SolarEdge Technologies by 5.4% in the third quarter. Royal London Asset Management Ltd. now owns 21,492 shares of the semiconductor company’s stock valued at $2,782,000 after purchasing an additional 1,101 shares during the period. Meitav Investment House Ltd. increased its stake in shares of SolarEdge Technologies by 27.2% in the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock valued at $61,231,000 after purchasing an additional 99,681 shares during the period. Finally, Compagnie Lombard Odier SCmA increased its stake in shares of SolarEdge Technologies by 250.0% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

About SolarEdge Technologies

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.