SolarEdge Technologies, Inc. (NASDAQ:SEDG) – Analysts at Oppenheimer Holdings boosted their Q4 2017 earnings estimates for SolarEdge Technologies in a report issued on Tuesday. Oppenheimer Holdings analyst C. Rusch now expects that the semiconductor company will earn $0.26 per share for the quarter, up from their prior forecast of $0.19. Oppenheimer Holdings has a “Outperform” rating and a $25.00 price target on the stock. Oppenheimer Holdings also issued estimates for SolarEdge Technologies’ FY2018 earnings at $1.37 EPS.
SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, May 9th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. SolarEdge Technologies had a net margin of 11.85% and a return on equity of 21.03%. The business had revenue of $115.10 million for the quarter, compared to analysts’ expectations of $114.10 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year.
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Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank AG set a $25.00 price target on shares of SolarEdge Technologies and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Needham & Company LLC upped their price target on shares of SolarEdge Technologies from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. BidaskClub cut shares of SolarEdge Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. UBS AG raised shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Finally, Axiom Securities reaffirmed a “sell” rating on shares of SolarEdge Technologies in a research report on Friday, June 9th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $20.43.
SolarEdge Technologies (NASDAQ:SEDG) traded up 0.113% on Thursday, hitting $22.075. 201,951 shares of the stock traded hands. SolarEdge Technologies has a 52-week low of $11.35 and a 52-week high of $22.90. The stock has a market cap of $917.30 million, a price-to-earnings ratio of 21.943 and a beta of -0.03. The company’s 50 day moving average price is $20.09 and its 200-day moving average price is $16.30.
In other SolarEdge Technologies news, VP Zvi Lando sold 1,300 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $22.02, for a total value of $28,626.00. Following the transaction, the vice president now directly owns 47,311 shares in the company, valued at approximately $1,041,788.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director More Avery sold 20,000 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $19.30, for a total transaction of $386,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,510 shares of company stock worth $875,774. Corporate insiders own 16.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC acquired a new stake in SolarEdge Technologies during the first quarter worth about $592,000. Engineers Gate Manager LP acquired a new stake in SolarEdge Technologies during the first quarter worth about $566,000. Swiss National Bank increased its stake in SolarEdge Technologies by 7.5% in the first quarter. Swiss National Bank now owns 37,400 shares of the semiconductor company’s stock worth $583,000 after buying an additional 2,600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in SolarEdge Technologies by 33.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 646,198 shares of the semiconductor company’s stock worth $10,081,000 after buying an additional 160,833 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in SolarEdge Technologies by 183.7% in the first quarter. Handelsbanken Fonder AB now owns 173,062 shares of the semiconductor company’s stock worth $2,700,000 after buying an additional 112,062 shares during the period. Institutional investors and hedge funds own 55.72% of the company’s stock.
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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