1.1: Company Overview: SolarEdge Technologies, Inc. (NASDAQ: SEDG) is engaged in providing inverter solutions for solar photovoltaic (PV) system. Key products of the company include SolarEdge Inverter, SolarEdge Power Optimizer, SolarEdge Solutions, and SolarEdge Monitoring Software. Kalkine’s GloAbal Fully Charged Report covers the Investment Highlights, Management Insights, Key Financial Metrics, Risks, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

The top 10 shareholders together form ~29.93% of the total shareholding. BlackRock Institutional Trust Company, N.A. and The Vanguard Group, Inc. are holding maximum stakes in the company at ~4.96% and ~4.01%, respectively.

In 1QFY23, SEDG reported record revenue of USD 943.9mn, up by 6% QoQ and edged up by 44% PcP. GAAP gross margin for the period stood at 31.8%, up by 2.5 percentage points (ppts) QoQ and surged by 4.5 ppts PcP. Below is captured other metrics showing the quarterly trend of revenue and net income margin since 1QFY22:

The stock price has plunged by ~15.90% in last 1 month and over the last 6 months, stock prices went down by ~20.16%. The stock has a 52-week low and 52-week high of USD 190.15 and USD 375.90, respectively, and is currently trading below the mid-range of the 52-week-high-low levels. SEDG was last covered in a report dated ’3 August 2021’.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 26 June 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.