Solaredge Technologies Inc (NASDAQ:SEDG) – Equities research analysts at B. Riley issued their Q1 2019 earnings per share estimates for Solaredge Technologies in a report issued on Thursday. B. Riley analyst C. Driscoll forecasts that the semiconductor company will earn $0.56 per share for the quarter. B. Riley has a “Buy” rating and a $48.00 price target on the stock. B. Riley also issued estimates for Solaredge Technologies’ Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.56 EPS and Q4 2019 earnings at $0.64 EPS.
Several other brokerages have also commented on SEDG. Zacks Investment Research raised Solaredge Technologies from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research note on Tuesday. Canaccord Genuity boosted their price objective on Solaredge Technologies from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Oppenheimer boosted their price objective on Solaredge Technologies from $38.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Deutsche Bank lowered Solaredge Technologies from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Monday, November 27th. Finally, Vertical Group raised Solaredge Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $42.73.
Shares of Solaredge Technologies (SEDG) traded up $1.45 during mid-day trading on Monday, reaching $47.45. The company had a trading volume of 1,824,700 shares, compared to its average volume of 865,435. The firm has a market cap of $2,080.00 and a price-to-earnings ratio of 26.55. Solaredge Technologies has a twelve month low of $13.50 and a twelve month high of $49.65.
Solaredge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.29. The business had revenue of $189.34 million for the quarter, compared to analyst estimates of $179.78 million. Solaredge Technologies had a return on equity of 29.21% and a net margin of 13.87%.
Hedge funds have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Solaredge Technologies during the fourth quarter worth $102,000. Meadow Creek Investment Management LLC bought a new stake in shares of Solaredge Technologies during the fourth quarter worth $109,000. American International Group Inc. bought a new stake in shares of Solaredge Technologies during the third quarter worth $123,000. Pinebridge Investments L.P. bought a new stake in shares of Solaredge Technologies during the third quarter worth $125,000. Finally, Tyers Asset Management LLC bought a new stake in shares of Solaredge Technologies during the fourth quarter worth $190,000. Institutional investors own 63.13% of the company’s stock.
In other news, CFO Ronen Faier sold 36,868 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $44.30, for a total transaction of $1,633,252.40. Following the completion of the sale, the chief financial officer now owns 28,634 shares in the company, valued at $1,268,486.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Guy Sella sold 216,666 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $42.15, for a total value of $9,132,471.90. Following the sale, the chief executive officer now owns 73,333 shares of the company’s stock, valued at approximately $3,090,985.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 416,914 shares of company stock valued at $17,159,064. 16.40% of the stock is currently owned by corporate insiders.
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About Solaredge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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