SolarEdge Technologies, Inc. (SEDG) CFO Ronen Faier Sells 20,000 Shares
SolarEdge Technologies, Inc. (NASDAQ:SEDG) CFO Ronen Faier sold 20,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $27.24, for a total value of $544,800.00. Following the completion of the sale, the chief financial officer now owns 100,000 shares of the company’s stock, valued at approximately $2,724,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of SolarEdge Technologies, Inc. (SEDG) traded down 0.18% during trading on Monday, hitting $28.30. The company’s stock had a trading volume of 1,513,647 shares. The company has a market capitalization of $1.18 billion, a P/E ratio of 28.13 and a beta of 0.04. SolarEdge Technologies, Inc. has a 1-year low of $11.35 and a 1-year high of $28.65. The firm’s 50 day moving average is $21.12 and its 200-day moving average is $16.89.
SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.18. SolarEdge Technologies had a return on equity of 21.01% and a net margin of 12.64%. The firm had revenue of $136.10 million for the quarter, compared to analyst estimates of $125.07 million. During the same quarter last year, the firm posted $0.44 EPS. The company’s revenue was up 9.1% on a year-over-year basis. Analysts forecast that SolarEdge Technologies, Inc. will post $1.77 EPS for the current fiscal year.
Several analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target (up previously from $25.00) on shares of SolarEdge Technologies in a report on Thursday. Barclays PLC restated an “overweight” rating and issued a $28.00 price target (up previously from $21.00) on shares of SolarEdge Technologies in a report on Thursday. Deutsche Bank AG set a $30.00 price target on SolarEdge Technologies and gave the company a “buy” rating in a report on Thursday. Oppenheimer Holdings, Inc. lifted their price target on SolarEdge Technologies from $25.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Cowen and Company restated a “buy” rating and issued a $31.00 price target (up previously from $24.00) on shares of SolarEdge Technologies in a report on Thursday. Three research analysts have rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $23.11.
Hedge funds have recently made changes to their positions in the company. Stifel Financial Corp increased its stake in shares of SolarEdge Technologies by 215.3% in the first quarter. Stifel Financial Corp now owns 45,217 shares of the semiconductor company’s stock worth $705,000 after buying an additional 30,878 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in SolarEdge Technologies during the first quarter valued at approximately $178,000. Swiss National Bank increased its position in SolarEdge Technologies by 7.5% in the first quarter. Swiss National Bank now owns 37,400 shares of the semiconductor company’s stock valued at $583,000 after buying an additional 2,600 shares during the period. First Trust Advisors LP increased its position in SolarEdge Technologies by 39.2% in the first quarter. First Trust Advisors LP now owns 90,885 shares of the semiconductor company’s stock valued at $1,418,000 after buying an additional 25,617 shares during the period. Finally, AQR Capital Management LLC bought a new position in SolarEdge Technologies during the fourth quarter valued at approximately $138,000. Institutional investors own 57.28% of the company’s stock.
SolarEdge Technologies Company Profile
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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