Enphase Energy, Inc. (NASDAQ:ENPH) Expected to Earn Q3 2024 Earnings of $0.63 Per Share

Enphase Energy, Inc. (NASDAQ:ENPH) – Analysts at B. Riley lowered their Q3 2024 earnings per share estimates for Enphase Energy in a research report issued to clients and investors on Wednesday, April 24th. B. Riley analyst C. Souther now expects that the semiconductor company will earn $0.63 per share for the quarter, down from their prior estimate of $0.77. B. Riley currently has a “Buy” rating and a $149.00 target price on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $1.96 per share.

A number of other equities analysts also recently commented on ENPH. KeyCorp restated a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Oppenheimer raised their price objective on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday. Canaccord Genuity Group started coverage on Enphase Energy in a research report on Tuesday, January 16th. They set a “buy” rating and a $142.00 target price for the company. Jefferies Financial Group downgraded Enphase Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $135.00 to $111.00 in a research report on Wednesday. Finally, Craig Hallum decreased their price objective on Enphase Energy from $159.00 to $147.00 and set a “buy” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $137.41.

Enphase Energy Trading Up 3.8 %

ENPH stock opened at $111.93 on Friday. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $192.22. The firm’s 50-day moving average is $117.82 and its 200 day moving average is $111.85. The company has a market capitalization of $15.23 billion, a PE ratio of 58.30, a P/E/G ratio of 3.17 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 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 for the quarter, compared to the consensus estimate of $327.06 million.

Insider Buying and Selling

In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the sale, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the sale, the director now directly owns 118,360 shares in the company, valued at approximately $12,391,108.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the completion of the sale, the executive vice president now directly owns 119,948 shares in the company, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders sold 54,285 shares of company stock worth $6,148,228 in the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Enphase Energy by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after buying an additional 192,854 shares during the period. Baillie Gifford & Co. raised its position in Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares in the last quarter. Northern Trust Corp lifted its holdings in Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after acquiring an additional 3,940 shares during the period. Norges Bank purchased a new stake in Enphase Energy in the 4th quarter worth approximately $149,425,000. Finally, Schroder Investment Management Group boosted its position in Enphase Energy by 3.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock worth $135,080,000 after purchasing an additional 35,681 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.