Research Analysts Issue Forecasts for Enphase Energy, Inc.’s Q1 2024 Earnings (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – KeyCorp issued their Q1 2024 earnings per share estimates for shares of Enphase Energy in a note issued to investors on Monday, April 22nd. KeyCorp analyst S. Karp forecasts that the semiconductor company will earn $0.03 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $1.95 per share. KeyCorp also issued estimates for Enphase Energy’s Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.88 EPS and Q4 2024 earnings at $0.92 EPS.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada reduced their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday. Mizuho cut their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Canaccord Genuity Group cut their price target on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Finally, StockNews.com lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and a consensus target price of $137.41.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $111.93 on Thursday. The firm has a market cap of $15.23 billion, a PE ratio of 58.30, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. The firm’s 50 day simple moving average is $118.22 and its 200-day simple moving average is $111.90. Enphase Energy has a one year low of $73.49 and a one year high of $192.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%.

Institutional Trading of Enphase Energy

Several large investors have recently bought and sold shares of ENPH. CWM LLC grew its stake in Enphase Energy by 6.3% during the 3rd quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock valued at $485,000 after acquiring an additional 239 shares in the last quarter. AE Wealth Management LLC boosted its holdings in Enphase Energy by 24.3% in the 3rd quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock valued at $1,795,000 after purchasing an additional 2,921 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Enphase Energy by 108.3% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 325 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Enphase Energy by 155.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 820 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in Enphase Energy in the 3rd quarter valued at about $259,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 54,285 shares of company stock worth $6,148,228. Company insiders own 3.40% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.