SolarEdge Technologies, Inc. (SEDG) Set to Announce Earnings on Monday
SolarEdge Technologies, Inc. (NASDAQ:SEDG) is scheduled to be releasing its earnings data after the market closes on Monday, November 6th. Analysts expect SolarEdge Technologies to post earnings of $0.55 per share for the quarter.
SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.18. The firm had revenue of $136.10 million during the quarter, compared to the consensus estimate of $125.07 million. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. On average, analysts expect SolarEdge Technologies to post $1.6 EPS for the current fiscal year and $1.67 EPS for the next fiscal year.
Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) traded up 0.638% during midday trading on Monday, reaching $32.355. 110,492 shares of the company’s stock traded hands. The firm has a market cap of $1.36 billion, a PE ratio of 28.684 and a beta of 0.02. SolarEdge Technologies, Inc. has a 12 month low of $11.35 and a 12 month high of $32.55. The stock has a 50-day moving average price of $28.70 and a 200 day moving average price of $28.70.
SEDG has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of SolarEdge Technologies in a research report on Tuesday, September 12th. Zacks Investment Research raised shares of SolarEdge Technologies from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research report on Thursday, July 20th. BidaskClub downgraded shares of SolarEdge Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Roth Capital set a $30.00 target price on shares of SolarEdge Technologies and gave the company a “buy” rating in a research report on Sunday, October 15th. Finally, CIBC raised shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $25.38.
In related news, VP Yoav Galin sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.35, for a total value of $395,250.00. Following the completion of the transaction, the vice president now directly owns 65,000 shares of the company’s stock, valued at approximately $1,712,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Rachel Prishkolnik sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $27.69, for a total transaction of $830,700.00. Following the completion of the transaction, the vice president now directly owns 20,000 shares of the company’s stock, valued at $553,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,000 shares of company stock valued at $5,034,150. 16.40% of the stock is owned by 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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