B. Riley Comments on Solaredge Technologies Inc’s Q1 2019 Earnings (SEDG)

Solaredge Technologies Inc (NASDAQ:SEDG) – Analysts at B. Riley issued their Q1 2019 earnings per share estimates for shares of Solaredge Technologies in a note issued to investors on Thursday. B. Riley analyst C. Driscoll forecasts that the semiconductor company will post earnings of $0.56 per share for the quarter. B. Riley has a “Buy” rating and a $48.00 price objective 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 released its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.29. The company had revenue of $189.34 million during the quarter, compared to analysts’ expectations of $179.78 million. Solaredge Technologies had a return on equity of 29.21% and a net margin of 13.87%.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Vertical Group raised Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine cut Solaredge Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Needham & Company LLC upped their price target on Solaredge Technologies from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Vertical Research raised Solaredge Technologies from a “hold” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Solaredge Technologies has an average rating of “Buy” and an average target price of $42.04.

Solaredge Technologies (SEDG) opened at $46.00 on Monday. The firm has a market capitalization of $1,978.59, a PE ratio of 20.63, a P/E/G ratio of 0.89 and a beta of 0.03. Solaredge Technologies has a fifty-two week low of $13.50 and a fifty-two week high of $47.15.

In other Solaredge Technologies news, VP Meir Adest sold 4,700 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $35.02, for a total transaction of $164,594.00. Following the completion of the transaction, the vice president now owns 20,633 shares of the company’s stock, valued at $722,567.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ronen Faier sold 36,868 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $44.30, for a total value of $1,633,252.40. Following the transaction, the chief financial officer now directly owns 28,634 shares of the company’s stock, valued at approximately $1,268,486.20. The disclosure for this sale can be found here. Insiders have sold 416,914 shares of company stock valued at $17,159,064 in the last three months. Insiders own 16.40% of the company’s stock.

Several large investors have recently bought and sold shares of SEDG. Arrowstreet Capital Limited Partnership increased its holdings in shares of Solaredge Technologies by 2,778.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 670,681 shares of the semiconductor company’s stock valued at $25,184,000 after purchasing an additional 647,381 shares during the last quarter. Meitav Dash Investments Ltd. acquired a new stake in shares of Solaredge Technologies in the fourth quarter valued at approximately $15,512,000. Shell Asset Management Co. acquired a new stake in shares of Solaredge Technologies in the fourth quarter valued at approximately $13,525,000. Principal Financial Group Inc. acquired a new stake in shares of Solaredge Technologies in the third quarter valued at approximately $7,611,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Solaredge Technologies by 16.6% in the third quarter. Bank of New York Mellon Corp now owns 1,781,003 shares of the semiconductor company’s stock valued at $50,849,000 after purchasing an additional 254,056 shares during the last quarter. 63.13% of the stock is owned by hedge funds and other institutional investors.

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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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