Q1 2024 Earnings Forecast for Enphase Energy, Inc. Issued By B. Riley (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Stock analysts at B. Riley dropped their Q1 2024 earnings estimates for shares of Enphase Energy in a note issued to investors on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the semiconductor company will post earnings of $0.18 per share for the quarter, down from their prior forecast of $0.40. B. Riley currently has a “Buy” rating and a $149.00 price target on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $2.01 per share. B. Riley also issued estimates for Enphase Energy’s Q2 2024 earnings at $0.40 EPS, Q3 2024 earnings at $0.77 EPS, Q4 2024 earnings at $0.89 EPS, FY2024 earnings at $2.26 EPS and FY2025 earnings at $4.38 EPS.

ENPH has been the topic of several other research reports. Truist Financial dropped their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday. Mizuho decreased their target price on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Roth Mkm reissued a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a research report on Wednesday. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 target price for the company. in a research report on Wednesday. Finally, Susquehanna reissued a “positive” rating and issued a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus price target of $141.00.

Enphase Energy Stock Up 0.6 %

Enphase Energy stock opened at $107.83 on Thursday. The firm has a market cap of $14.66 billion, a PE ratio of 53.47, a P/E/G ratio of 3.24 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The firm’s 50 day moving average price is $118.79 and its two-hundred day moving average price is $111.93. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $192.22.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. The business had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently added to or reduced their stakes in the stock. Legato Capital Management LLC acquired a new position in Enphase Energy during the 4th quarter worth approximately $1,542,000. Assenagon Asset Management S.A. lifted its stake in shares of Enphase Energy by 348.6% during the 4th 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 during the period. AustralianSuper Pty Ltd purchased a new position in shares of Enphase Energy during the 4th quarter worth $566,000. Glenmede Trust Co. NA lifted its stake in shares of Enphase Energy by 92.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 1,521 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Enphase Energy by 8.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock worth $17,013,000 after buying an additional 10,729 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction on 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 transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is currently owned by insiders.

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.