Equities Analysts Offer Predictions 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 SolarEdge Technologies in a note issued to investors on Monday, April 22nd. KeyCorp analyst S. Karp forecasts 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 ($4.60) 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.

Several other brokerages have also recently issued reports on SEDG. Scotiabank reduced their target price on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 21st. Barclays lifted their target price on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Piper Sandler reduced their price objective 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. Janney Montgomery Scott cut SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, March 22nd. Finally, Citigroup reduced their price objective on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.38.

SolarEdge Technologies Trading Up 2.8 %

Shares of SEDG stock opened at $58.20 on Thursday. SolarEdge Technologies has a 12-month low of $53.59 and a 12-month high of $315.34. 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 stock’s 50-day moving average price is $67.32 and its 200-day moving average price is $77.98. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 129.33 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) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million.

Hedge Funds Weigh In On SolarEdge Technologies

Large investors have recently made changes to their positions in the business. NBC Securities Inc. acquired a new position in shares of SolarEdge Technologies in the 3rd quarter valued at $25,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of SolarEdge Technologies by 194.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 277 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 183 shares during the period. Manchester Capital Management LLC increased its position in shares of SolarEdge Technologies by 1,345.0% in the 4th quarter. Manchester Capital Management LLC now owns 289 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 269 shares during the period. GAMMA Investing LLC acquired a new position in shares of SolarEdge Technologies in the 4th quarter valued at $30,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of SolarEdge Technologies by 4,000.0% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 410 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 400 shares during the period. 95.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director More Avery bought 7,000 shares of the stock in a transaction on Thursday, February 29th. The stock was bought at an average price of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the acquisition, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.17% of the stock is owned by company insiders.

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.