Q2 2024 EPS Estimates for Enphase Energy, Inc. Increased by Roth Capital (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Roth Capital raised their Q2 2024 earnings per share (EPS) estimates for Enphase Energy in a research report issued to clients and investors on Wednesday, April 24th. Roth Capital analyst P. Shen now expects that the semiconductor company will post earnings per share of $0.25 for the quarter, up from their previous estimate of $0.14. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. Roth Capital also issued estimates for Enphase Energy’s Q3 2024 earnings at $0.55 EPS, Q4 2024 earnings at $0.82 EPS, FY2024 earnings at $1.61 EPS, Q1 2025 earnings at $0.90 EPS, Q2 2025 earnings at $1.05 EPS, Q3 2025 earnings at $1.25 EPS, Q4 2025 earnings at $1.51 EPS and FY2025 earnings at $4.72 EPS.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The company 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 31.89% and a net margin of 15.10%.

Several other analysts also recently commented on the stock. Canaccord Genuity Group initiated coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 target price for the company. B. Riley upped their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Mizuho lowered their target price on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. BMO Capital Markets reduced their price target on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group downgraded Enphase Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $135.00 to $111.00 in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $137.41.

Enphase Energy Trading Up 3.8 %

Shares of NASDAQ ENPH opened at $111.93 on Monday. The business has a 50 day simple moving average of $117.82 and a 200 day simple moving average of $111.63. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $192.22. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.29 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the sale, the director now owns 118,360 shares in the company, valued at $12,391,108.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the completion of the transaction, the executive vice president now owns 119,948 shares in the company, valued at approximately $13,948,752.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares in the company, valued at $12,391,108.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,285 shares of company stock worth $6,148,228. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently made changes to their positions in ENPH. Baillie Gifford & Co. increased its position in shares of Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares in the last quarter. Norges Bank bought a new stake in Enphase Energy during the fourth quarter worth about $149,425,000. Nordea Investment Management AB increased its holdings in shares of Enphase Energy by 158.8% during the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after buying an additional 501,385 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Enphase Energy in the fourth quarter valued at approximately $41,068,000. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Enphase Energy by 3,396.9% in the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after acquiring an additional 255,175 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.