$SEDG Breaks Out, New Highs Likely
SEDG has broken out of its channel after delivering a strong Q4 earnings beat. SolarEdge Technologies (NASDAQ:SEDG): Q4 Non-GAAP EPS of $1.65 beats by $0.40; GAAP EPS of $1.03 misses by $0.02. Revenue of 418.2M (+58.6% Y/Y) beats by 4.4M.SolarEdge (NASDAQ:SEDG) reports Q4 beats with 59% Y/Y revenue growth. Solar product revenue totaled 389M, up 60% Y/Y.
Gross margin was 35.5%, up from 30.9% in last year's quarter. Gross margin for the solar business was 37.8%, up from 32.8%.
Operating expenses rose 15% to 63.1M.
The Q1 outlook sees revenue of $425-440M (consensus: 389.26M), solar product revenue of $405-415M, and gross margin of 32-34%.
The best trade setup is a buy above yesterday's high of $128.80 a share. We will be watching.
As always, trade with caution and use protective stops.
Good luck to all!
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