Solaredge Technologies Inc (NASDAQ:SEDG) shares are trading lower by 4.34% to $261.88 during Thursday’s session. Shares of several semiconductor companies are trading lower in sympathy with Taiwan Semiconductor, which issued weak third-quarter and 2023 guidance.
SolarEdge Technologies is a solar energy solutions provider that manufactures and sells inverters and power optimizers for solar photovoltaic systems. If TSM, a major semiconductor manufacturer, reports weaker-than-expected earnings, it may indicate constraints in the semiconductor industry.
This could affect SolarEdge’s ability to source necessary components for its products, leading to production delays or increased costs, which might negatively impact the company’s financial performance and stock price.
According to data from Benzinga Pro, SEDG has a 52-week high of $375.90 and a 52-week low of $190.15.
