KeyCorp Weighs in on SolarEdge Technologies, Inc.’s Q1 2024 Earnings (NASDAQ:SEDG)

SolarEdge Technologies, Inc. (NASDAQ:SEDG) – Analysts at KeyCorp issued their Q1 2024 earnings estimates for shares of SolarEdge Technologies in a report released 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 ($4.17) 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.

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, beating analysts’ consensus estimates of ($2.01) by $0.60. The company had revenue of $316.04 million for the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%.

A number of other brokerages have also weighed in on SEDG. DZ Bank assumed coverage on shares of SolarEdge Technologies in a report 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 set a $75.00 target price on shares of SolarEdge Technologies in a report on Wednesday, February 21st. Susquehanna reduced their target price on shares of SolarEdge Technologies from $97.00 to $92.00 and set a “positive” rating on the stock in a report on Friday, April 5th. BMO Capital Markets reduced their target price on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Wednesday, February 21st. Finally, StockNews.com upgraded shares of SolarEdge Technologies to a “sell” rating in a report on Thursday, December 28th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, SolarEdge Technologies currently has an average rating of “Hold” and an average target price of $98.38.

SolarEdge Technologies Stock Up 1.9 %

Shares of SEDG opened at $57.86 on Thursday. The firm has a market cap of $3.31 billion, a PE ratio of 128.58 and a beta of 1.51. The company’s fifty day moving average is $68.43 and its two-hundred day moving average is $78.27. SolarEdge Technologies has a fifty-two week low of $53.59 and a fifty-two week high of $317.93. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery acquired 7,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now directly owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of SolarEdge Technologies by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,529,274 shares of the semiconductor company’s stock valued at $327,566,000 after buying an additional 92,230 shares during the last quarter. Baillie Gifford & Co. grew its position in SolarEdge Technologies by 89.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,770,501 shares of the semiconductor company’s stock worth $229,298,000 after purchasing an additional 835,290 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in SolarEdge Technologies by 108.5% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,495,069 shares of the semiconductor company’s stock worth $193,626,000 after purchasing an additional 778,034 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in SolarEdge Technologies by 10.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 984,901 shares of the semiconductor company’s stock worth $92,210,000 after purchasing an additional 89,279 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in SolarEdge Technologies by 1.6% in the 4th quarter. Impax Asset Management Group plc now owns 954,264 shares of the semiconductor company’s stock worth $88,890,000 after purchasing an additional 14,878 shares during the last quarter. Institutional investors own 95.10% of the company’s stock.

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.