SolarEdge Technologies (NASDAQ:SEDG) Announces Quarterly Earnings Results

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SolarEdge Technologies (NASDAQ:SEDG) posted its quarterly earnings data on Monday. The semiconductor company reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.31, reports. SolarEdge Technologies had a net margin of 11.55% and a return on equity of 19.31%. The business had revenue of $405.50 million during the quarter, compared to the consensus estimate of $395.73 million. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. SolarEdge Technologies updated its Q2 2021 guidance to – EPS.

Shares of SEDG stock traded down $38.99 on Tuesday, reaching $221.07. 163,754 shares of the company were exchanged, compared to its average volume of 1,081,693. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 66.52, a P/E/G ratio of 3.40 and a beta of 0.98. The business has a 50-day moving average price of $272.77 and a 200 day moving average price of $286.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.79 and a current ratio of 4.56. SolarEdge Technologies has a 1 year low of $101.19 and a 1 year high of $377.00.

In related news, VP Meir Adest sold 10,000 shares of the stock in a transaction on Monday, March 1st. The shares were sold at an average price of $304.12, for a total transaction of $3,041,200.00. Following the completion of the sale, the vice president now owns 307,336 shares in the company, valued at approximately $93,467,024.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marcel Gani sold 3,000 shares of the stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $293.15, for a total transaction of $879,450.00. The disclosure for this sale can be found here. Insiders have sold 31,222 shares of company stock worth $9,185,473 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Several equities research analysts have recently commented on the stock. Barclays upgraded shares of SolarEdge Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $334.00 to $365.00 in a research note on Wednesday, April 28th. Needham & Company LLC reissued a “hold” rating on shares of SolarEdge Technologies in a report on Wednesday, February 17th. Truist assumed coverage on shares of SolarEdge Technologies in a report on Tuesday, January 12th. They set a “buy” rating and a $435.00 target price for the company. Johnson Rice cut shares of SolarEdge Technologies from an “accumulate” rating to a “hold” rating in a report on Tuesday, January 5th. Finally, Zacks Investment Research cut shares of SolarEdge Technologies from a “hold” rating to a “sell” rating in a report on Friday, February 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. SolarEdge Technologies presently has an average rating of “Hold” and a consensus price target of $304.89.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.

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Earnings History for SolarEdge Technologies (NASDAQ:SEDG)

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