Solaredge Technologies (NASDAQ:SEDG) Issues Quarterly Earnings Results

Solaredge Technologies (NASDAQ:SEDG) posted its quarterly earnings results on Wednesday. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.22, Briefing.com reports. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. The business had revenue of $410.56 million during the quarter, compared to analyst estimates of $402.89 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue was up 73.5% on a year-over-year basis.

SEDG stock traded down $1.95 during trading on Friday, reaching $77.95. The company had a trading volume of 1,466,765 shares, compared to its average volume of 899,116. Solaredge Technologies has a 52 week low of $32.42 and a 52 week high of $96.69. The business has a 50 day moving average of $86.37 and a 200 day moving average of $69.28. The company has a market cap of $3.99 billion, a P/E ratio of 28.98, a PEG ratio of 1.27 and a beta of 0.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.98.

A number of research firms have recently weighed in on SEDG. Cowen set a $85.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research lowered shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 9th. JMP Securities increased their target price on shares of Solaredge Technologies to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. ValuEngine lowered shares of Solaredge Technologies from a “hold” rating to a “sell” rating in a report on Friday. Finally, Northland Securities reiterated a “buy” rating on shares of Solaredge Technologies in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Solaredge Technologies currently has an average rating of “Buy” and an average price target of $85.75.

In related news, VP Yoav Galin sold 97,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $84.22, for a total value of $8,211,450.00. Following the sale, the vice president now owns 59,030 shares in the company, valued at $4,971,506.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Zvi Lando sold 28,604 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.55, for a total transaction of $2,246,844.20. Following the completion of the sale, the vice president now owns 101,313 shares in the company, valued at approximately $7,958,136.15. The disclosure for this sale can be found here. Insiders have sold 270,203 shares of company stock valued at $22,538,997 in the last ninety days. Insiders own 7.90% of the company’s stock.

Solaredge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Earnings History for Solaredge Technologies (NASDAQ:SEDG)

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