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

SolarEdge Technologies, Inc. (NASDAQ:SEDG) – Investment analysts at B. Riley cut their Q1 2024 earnings per share (EPS) estimates for shares of SolarEdge Technologies in a research note issued on Monday, April 22nd. B. Riley analyst C. Souther now forecasts that the semiconductor company will earn ($1.75) per share for the quarter, down from their prior forecast of ($1.23). B. Riley has a “Buy” rating and a $124.00 price objective 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.

SolarEdge Technologies (NASDAQ:SEDG) last posted its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($2.01) by $0.60. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%.

SEDG has been the topic of a number of other research reports. Truist Financial dropped their price objective on SolarEdge Technologies from $80.00 to $75.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Scotiabank dropped their price objective 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. DZ Bank started coverage on SolarEdge Technologies in a research report on Wednesday, April 17th. They set a “hold” rating and a $62.00 price target for the company. Citigroup dropped their price target on SolarEdge Technologies from $89.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Finally, Janney Montgomery Scott downgraded SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.38.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $58.20 on Thursday. The stock’s 50-day simple moving average is $67.32 and its 200 day simple moving average 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. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. SolarEdge Technologies has a 52-week low of $53.59 and a 52-week high of $315.34.

Insiders Place Their Bets

In related news, Director More Avery purchased 7,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was acquired at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the transaction, the director now directly owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd lifted its holdings in 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 acquiring an additional 12,302 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in 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 acquiring an additional 103,293 shares during the last quarter. Royal London Asset Management Ltd. lifted its holdings in 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 acquiring an additional 1,101 shares during the last quarter. Meitav Investment House Ltd. lifted its stake in SolarEdge Technologies by 27.2% during the third quarter. Meitav Investment House Ltd. now owns 465,854 shares of the semiconductor company’s stock worth $61,231,000 after purchasing an additional 99,681 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA lifted its stake in SolarEdge Technologies by 250.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 700 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 500 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

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.