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

Enphase Energy, Inc. (NASDAQ:ENPH) – Equities research analysts at KeyCorp issued their Q1 2024 earnings per share (EPS) estimates for Enphase Energy in a research note issued to investors on Monday, April 22nd. KeyCorp analyst S. Karp anticipates that the semiconductor company will earn $0.03 per share for the quarter. KeyCorp currently 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.

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

A number of other analysts also recently weighed in on the stock. Oppenheimer increased their target price on shares of Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays raised shares of Enphase Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $115.00 to $134.00 in a research report on Friday. Roth Mkm reissued a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a research report on Wednesday. Piper Sandler reissued a “neutral” rating and set a $111.00 target price (down previously from $113.00) on shares of Enphase Energy in a research report on Wednesday. Finally, Craig Hallum decreased their target price on shares of Enphase Energy from $159.00 to $147.00 and set a “buy” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $137.41.

Enphase Energy Stock Performance

Enphase Energy stock opened at $111.93 on Thursday. The business has a 50 day moving average of $118.22 and a 200-day moving average of $111.90. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $192.22. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19. The company has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a P/E/G ratio of 3.16 and a beta of 1.47.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in Enphase Energy during the 4th quarter valued at about $206,000. Legato Capital Management LLC purchased a new position in Enphase Energy during the 4th quarter valued at about $1,542,000. Assenagon Asset Management S.A. grew its holdings in shares of Enphase Energy by 348.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after purchasing an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Enphase Energy in the fourth quarter worth approximately $566,000. Finally, Glenmede Trust Co. NA raised its stake in Enphase Energy by 92.7% in the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 1,521 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value 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 approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 54,285 shares of company stock valued at $6,148,228. 3.40% of the stock is owned by insiders.

Enphase Energy Company Profile

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.