Enphase Energy, Inc. to Post Q3 2024 Earnings of $0.63 Per Share, B. Riley Forecasts (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Equities researchers at B. Riley decreased their Q3 2024 EPS estimates for shares of Enphase Energy in a research report issued to clients and investors on Wednesday, April 24th. B. Riley analyst C. Souther now anticipates that the semiconductor company will post earnings of $0.63 per share for the quarter, down from their previous 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 $1.95 per share.

ENPH has been the topic of several other reports. TD Cowen upped their price objective on shares of Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reduced their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday. DZ Bank started coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They set a “hold” rating and a $116.00 price objective for the company. Canaccord Genuity Group reduced their price objective on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Barclays upgraded 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. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.41.

Enphase Energy Stock Up 3.8 %

NASDAQ:ENPH opened at $111.93 on Friday. The company has a market cap of $15.23 billion, a PE ratio of 58.30, a P/E/G ratio of 3.16 and a beta of 1.47. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $192.22. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30. The company’s 50 day moving average is $118.22 and its two-hundred day moving average is $111.90.

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

Insider Activity

In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred on 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 directly 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 quarter, insiders sold 54,285 shares of company stock valued at $6,148,228. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Enphase Energy

Several hedge funds have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its holdings in Enphase Energy by 25.8% in the first quarter. Pinnacle Associates Ltd. now owns 2,510 shares of the semiconductor company’s stock valued at $304,000 after acquiring an additional 515 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in Enphase Energy in the first quarter valued at approximately $35,000. Clear Creek Financial Management LLC acquired a new stake in Enphase Energy in the first quarter valued at approximately $225,000. Lindbrook Capital LLC raised its holdings in Enphase Energy by 50.9% during the first quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 144 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Enphase Energy by 14.3% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,570 shares of the semiconductor company’s stock worth $3,577,000 after purchasing an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.