Enphase Energy (NASDAQ:ENPH) Releases Quarterly Earnings Results, Beats Expectations By $0.40 EPS

Enphase Energy (NASDAQ:ENPH – Get Rating) announced its quarterly earnings data on Tuesday. The semiconductor company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.40, MarketWatch Earnings reports. Enphase Energy had a net margin of 10.52% and a return on equity of 39.09%. During the same period in the previous year, the company earned $0.48 earnings per share. Enphase Energy updated its Q2 2022 guidance to EPS.

NASDAQ:ENPH traded up $14.60 during mid-day trading on Wednesday, hitting $168.43. 248,663 shares of the company’s stock traded hands, compared to its average volume of 3,211,745. The company has a debt-to-equity ratio of 2.21, a quick ratio of 3.16 and a current ratio of 3.33. The company has a market cap of $22.73 billion, a PE ratio of 162.52 and a beta of 1.27. The firm’s 50 day simple moving average is $176.96 and its 200 day simple moving average is $185.08. Enphase Energy has a 1 year low of $108.88 and a 1 year high of $282.46.

In related news, EVP David A. Ranhoff sold 15,376 shares of the stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $162.81, for a total transaction of $2,503,366.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman sold 35,502 shares of the company’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $162.81, for a total transaction of $5,780,080.62. The disclosure for this sale can be found here. Insiders sold 255,577 shares of company stock worth $43,780,910 in the last ninety days. Insiders own 5.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kingsview Wealth Management LLC boosted its holdings in Enphase Energy by 5.1% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,504 shares of the semiconductor company’s stock valued at $275,000 after purchasing an additional 73 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of Enphase Energy by 13.9% in the 4th quarter. NEXT Financial Group Inc now owns 858 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 105 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of Enphase Energy by 9.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 1,305 shares of the semiconductor company’s stock valued at $239,000 after purchasing an additional 114 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Enphase Energy by 13.8% during the fourth quarter. Glenmede Trust Co. NA now owns 2,691 shares of the semiconductor company’s stock worth $492,000 after purchasing an additional 327 shares during the last quarter. Finally, Horizon Investments LLC increased its holdings in Enphase Energy by 7.6% in the fourth quarter. Horizon Investments LLC now owns 8,051 shares of the semiconductor company’s stock valued at $1,473,000 after buying an additional 571 shares during the last quarter. Hedge funds and other institutional investors own 70.39% of the company’s stock.

Several analysts have recently issued reports on ENPH shares. Oppenheimer increased their price objective on Enphase Energy from $290.00 to $307.00 in a research note on Wednesday. KeyCorp increased their price objective on shares of Enphase Energy from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, April 7th. Truist Financial lowered their target price on shares of Enphase Energy from $290.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, January 24th. StockNews.com initiated coverage on Enphase Energy in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Enphase Energy from $290.00 to $246.00 in a report on Thursday, January 20th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $239.72.

About Enphase Energy (Get Rating)

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 services.

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