Enphase Energy, Inc. (NASDAQ:ENPH) Expected to Earn Q1 2024 Earnings of $0.18 Per Share

Enphase Energy, Inc. (NASDAQ:ENPH) – Analysts at B. Riley decreased their Q1 2024 earnings per share estimates for Enphase Energy in a research report issued on Monday, April 22nd. B. Riley analyst C. Souther now forecasts that the semiconductor company will post earnings per share of $0.18 for the quarter, down from their prior forecast of $0.40. 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 $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 issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million.

A number of other equities research analysts have also weighed in on the company. StockNews.com lowered Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Susquehanna reissued a “positive” rating and issued a $140.00 price target on shares of Enphase Energy in a research report on Friday, April 5th. Barclays upped their price objective on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Jefferies Financial Group cut Enphase Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from $135.00 to $111.00 in a report on Wednesday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $111.00 price target (down previously from $113.00) on shares of Enphase Energy in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.00.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $107.83 on Thursday. The stock has a market cap of $14.66 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. 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 stock has a fifty day moving average of $118.79 and a 200-day moving average of $111.93.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of 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 link. In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of 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 link. Also, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction 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 $376,964.34. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock valued at $4,054,428 over the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently added to or reduced their stakes in ENPH. Donoghue Forlines LLC boosted its stake in shares of Enphase Energy by 4.8% during the 4th quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after acquiring an additional 90 shares in the last quarter. Fermata Advisors LLC boosted its stake in shares of Enphase Energy by 1.4% during the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after acquiring an additional 100 shares in the last quarter. Fulton Breakefield Broenniman LLC boosted its stake in shares of Enphase Energy by 0.9% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock worth $1,505,000 after acquiring an additional 107 shares in the last quarter. VitalStone Financial LLC boosted its stake in shares of Enphase Energy by 14.3% during the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 111 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in shares of Enphase Energy by 5.5% during the 3rd quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 131 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.