Solaredge Technologies Inc Forecasted to Earn Q1 2019 Earnings of $0.56 Per Share (SEDG)

Solaredge Technologies Inc (NASDAQ:SEDG) – Equities research analysts at B. Riley issued their Q1 2019 earnings per share (EPS) estimates for Solaredge Technologies in a research note issued on Thursday. B. Riley analyst C. Driscoll expects that the semiconductor company will earn $0.56 per share for the quarter. B. Riley has a “Buy” rating and a $48.00 price target on the stock. B. Riley also issued estimates for Solaredge Technologies’ Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.56 EPS and Q4 2019 earnings at $0.64 EPS.

Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.29. Solaredge Technologies had a net margin of 13.87% and a return on equity of 29.21%. The business had revenue of $189.34 million during the quarter, compared to analyst estimates of $179.78 million.

Several other brokerages have also commented on SEDG. Vertical Group upgraded shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. Zacks Investment Research lowered shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Vertical Research upgraded shares of Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. BidaskClub lowered shares of Solaredge Technologies from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Deutsche Bank raised their price objective on shares of Solaredge Technologies from $40.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Solaredge Technologies currently has an average rating of “Buy” and a consensus price target of $42.73.

Shares of Solaredge Technologies (NASDAQ SEDG) traded up $1.25 on Monday, reaching $47.25. 1,237,494 shares of the company’s stock traded hands, compared to its average volume of 846,488. Solaredge Technologies has a twelve month low of $13.50 and a twelve month high of $47.40. The stock has a market capitalization of $1,990.00 and a price-to-earnings ratio of 25.54.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Meitav Dash Investments Ltd. bought a new stake in shares of Solaredge Technologies during the fourth quarter valued at approximately $15,512,000. Flinton Capital Management LLC bought a new stake in shares of Solaredge Technologies during the fourth quarter valued at approximately $231,000. Meadow Creek Investment Management LLC bought a new stake in shares of Solaredge Technologies during the fourth quarter valued at approximately $109,000. Tyers Asset Management LLC bought a new stake in shares of Solaredge Technologies during the fourth quarter valued at approximately $190,000. Finally, Raymond James & Associates increased its position in shares of Solaredge Technologies by 25.6% during the fourth quarter. Raymond James & Associates now owns 34,516 shares of the semiconductor company’s stock valued at $1,296,000 after acquiring an additional 7,043 shares in the last quarter. 63.13% of the stock is owned by institutional investors.

In other news, CEO Guy Sella sold 216,666 shares of Solaredge Technologies stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $42.15, for a total transaction of $9,132,471.90. Following the completion of the transaction, the chief executive officer now directly owns 73,333 shares in the company, valued at $3,090,985.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yoav Galin sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $44.33, for a total transaction of $1,551,550.00. The disclosure for this sale can be found here. Insiders have sold 416,914 shares of company stock valued at $17,159,064 over the last quarter. Company insiders own 16.40% of the company’s stock.

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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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