Q4 2017 Earnings Forecast for SolarEdge Technologies, Inc. (NASDAQ:SEDG) Issued By Oppenheimer Holdings

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SolarEdge Technologies, Inc. (NASDAQ:SEDG) – Investment analysts at Oppenheimer Holdings lifted their Q4 2017 earnings per share (EPS) estimates for SolarEdge Technologies in a research note issued on Tuesday. Oppenheimer Holdings analyst C. Rusch now forecasts that the semiconductor company will post earnings per share of $0.26 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.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of SolarEdge Technologies from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Thursday. CIBC upgraded shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a report on Tuesday. UBS AG upgraded shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a report on Tuesday. Cowen and Company reiterated a “buy” rating and issued a $24.00 target price on shares of SolarEdge Technologies in a report on Friday, July 14th. Finally, Needham & Company LLC boosted their target price on shares of SolarEdge Technologies from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. SolarEdge Technologies currently has an average rating of “Buy” and an average target price of $20.43.

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Shares of SolarEdge Technologies (SEDG) opened at 22.25 on Thursday. The company’s 50-day moving average is $20.20 and its 200 day moving average is $16.34. The stock has a market capitalization of $924.58 million, a P/E ratio of 22.12 and a beta of -0.03. SolarEdge Technologies has a 12 month low of $11.35 and a 12 month high of $22.90.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.09. SolarEdge Technologies had a net margin of 11.85% and a return on equity of 21.03%. The company had revenue of $115.10 million for the quarter, compared to the consensus estimate of $114.10 million. During the same period in the prior year, the firm posted $0.51 EPS. SolarEdge Technologies’s revenue for the quarter was down 8.1% on a year-over-year basis.

In related news, VP Zvi Lando sold 1,300 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $22.02, for a total value of $28,626.00. Following the sale, the vice president now owns 47,311 shares in the company, valued at $1,041,788.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director More Avery sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $19.30, for a total value of $386,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,510 shares of company stock worth $875,774. 16.40% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC bought a new stake in SolarEdge Technologies during the first quarter valued at approximately $592,000. Engineers Gate Manager LP bought a new stake in SolarEdge Technologies during the first quarter valued at approximately $566,000. Swiss National Bank raised 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 valued at $583,000 after buying an additional 2,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 valued at $10,081,000 after buying an additional 160,833 shares in the last quarter. Finally, Handelsbanken Fonder AB raised 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 valued at $2,700,000 after buying an additional 112,062 shares in the last quarter. Hedge funds and other institutional investors 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.