Q1 2024 EPS Estimates for Enphase Energy, Inc. Lowered by Analyst (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Stock analysts at B. Riley lowered their Q1 2024 earnings per share (EPS) estimates for Enphase Energy in a report released on Monday, April 22nd. B. Riley analyst C. Souther now expects that the semiconductor company will earn $0.18 per share for the quarter, down from their previous estimate of $0.40. B. Riley has a “Buy” rating and a $149.00 price objective 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.

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

A number of other equities research analysts have also commented on ENPH. Oppenheimer raised their price target on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley raised their price target on Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Roth Mkm reaffirmed a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a research report on Wednesday. Citigroup lowered Enphase Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $126.00 to $121.00 in a research report on Friday, April 5th. Finally, Susquehanna reiterated a “positive” rating and set a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.00.

Enphase Energy Trading Down 5.6 %

NASDAQ ENPH opened at $107.17 on Thursday. The firm has a market cap of $14.57 billion, a P/E ratio of 55.82, 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 current ratio of 4.59 and a quick ratio of 4.19. The stock’s 50-day moving average is $119.28 and its 200-day moving average is $111.97. Enphase Energy has a one year low of $73.49 and a one year high of $228.36.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 192,854 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Enphase Energy by 387,343.1% in the 4th 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 raised its holdings in Enphase Energy by 0.3% in the 4th 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 in the last quarter. Norges Bank acquired a new position in Enphase Energy in the 4th quarter valued at $149,425,000. Finally, Schroder Investment Management Group raised its holdings 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 valued at $135,080,000 after acquiring an additional 35,681 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The stock was 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 directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was purchased 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 of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction on 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 directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,285 shares of company stock valued at $4,054,428. 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.