SolarEdge Technologies (SEDG) Set to Announce Earnings on Tuesday – Defense World
Posted by admin on Jul 31st, 2022 
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) is scheduled to announce its earnings results after the market closes on Tuesday, August 2nd. Analysts expect the company to announce earnings of $1.40 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.
SolarEdge Technologies (NASDAQ:SEDG – Get Rating) last posted its quarterly earnings results on Monday, May 2nd. The semiconductor company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.18). SolarEdge Technologies had a return on equity of 11.59% and a net margin of 7.78%. The business had revenue of $655.08 million for the quarter, compared to analyst estimates of $634.70 million. On average, analysts expect SolarEdge Technologies to post $5 EPS for the current fiscal year and $8 EPS for the next fiscal year.
SolarEdge Technologies stock opened at $360.13 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.57 and a current ratio of 4.33. SolarEdge Technologies has a 52 week low of $200.86 and a 52 week high of $389.71. The stock has a market capitalization of $19.95 billion, a P/E ratio of 115.43, a price-to-earnings-growth ratio of 2.23 and a beta of 1.06. The stock has a fifty day moving average of $283.51 and a 200-day moving average of $277.48.
In other SolarEdge Technologies news, insider Meir Adest sold 5,000 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $263.61, for a total value of $1,318,050.00. Following the transaction, the insider now owns 186,057 shares in the company, valued at $49,046,485.77. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Rachel Prishkolnik sold 1,900 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $301.58, for a total value of $573,002.00. Following the completion of the sale, the vice president now directly owns 12,581 shares of the company’s stock, valued at $3,794,177.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Meir Adest sold 5,000 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $263.61, for a total value of $1,318,050.00. Following the completion of the sale, the insider now directly owns 186,057 shares of the company’s stock, valued at $49,046,485.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,613 shares of company stock worth $3,007,896. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SEDG. Robeco Schweiz AG purchased a new stake in shares of SolarEdge Technologies in the first quarter worth approximately $94,454,000. Clearbridge Investments LLC increased its position in shares of SolarEdge Technologies by 120.4% during the first quarter. Clearbridge Investments LLC now owns 476,378 shares of the semiconductor company’s stock valued at $153,570,000 after acquiring an additional 260,203 shares during the last quarter. Cartenna Capital LP purchased a new stake in shares of SolarEdge Technologies during the first quarter valued at approximately $14,507,000. Eaton Vance Management increased its position in shares of SolarEdge Technologies by 3,846.8% during the first quarter. Eaton Vance Management now owns 38,363 shares of the semiconductor company’s stock valued at $12,367,000 after acquiring an additional 37,391 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of SolarEdge Technologies by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,083,190 shares of the semiconductor company’s stock valued at $671,558,000 after acquiring an additional 37,181 shares during the last quarter. 75.73% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on SEDG shares. JPMorgan Chase & Co. boosted their price target on SolarEdge Technologies from $382.00 to $396.00 in a report on Wednesday, July 20th. Truist Financial initiated coverage on SolarEdge Technologies in a report on Monday, May 2nd. They issued a “buy” rating and a $340.00 target price for the company. StockNews.com raised SolarEdge Technologies to a “sell” rating in a report on Saturday, July 2nd. Morgan Stanley lowered their target price on SolarEdge Technologies from $333.00 to $316.00 and set an “equal weight” rating for the company in a report on Monday, June 13th. Finally, Oppenheimer raised SolarEdge Technologies from a “market perform” rating to an “outperform” rating and set a $334.00 target price for the company in a report on Thursday, June 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.62.
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SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates through five segments: Solar, Energy Storage, e-Mobility, Critical Power, and Automation Machines. The company offers inverters, power optimizers, communication devices, and smart energy management solutions used in residential, commercial, and small utility-scale solar installations; and a cloud-based monitoring platform that collects and processes information from the power optimizers and inverters, as well as monitors and manages the solar PV system.
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