Equities Analysts Set Expectations for Enphase Energy, Inc.’s Q3 2024 Earnings (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Investment analysts at B. Riley reduced their Q3 2024 earnings per share estimates for Enphase Energy in a report released on Wednesday, April 24th. B. Riley analyst C. Souther now anticipates that the semiconductor company will earn $0.63 per share for the quarter, down from their prior estimate of $0.77. B. Riley has a “Buy” rating and a $149.00 price target on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $1.95 per share.

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

Other analysts also recently issued research reports about the company. Royal Bank of Canada cut their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price target on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley raised their target price on Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Susquehanna restated a “positive” rating and issued a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. Finally, KeyCorp restated a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average target price of $141.58.

Enphase Energy Trading Up 0.6 %

Shares of NASDAQ ENPH opened at $107.83 on Friday. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 56.16, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. Enphase Energy has a 12-month low of $73.49 and a 12-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 stock’s 50 day simple moving average is $118.79 and its 200 day simple moving average is $111.93.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction 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 owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold a total of 34,285 shares of company stock valued at $4,054,428 in the last three months. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Enphase Energy

Institutional investors have recently bought and sold shares of the company. 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 valued at $52,000 after buying an additional 144 shares in the last quarter. 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 valued at $3,577,000 after buying an additional 3,700 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Enphase Energy by 24.9% during the first quarter. V Square Quantitative Management LLC now owns 2,008 shares of the semiconductor company’s stock valued at $243,000 after buying an additional 400 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Enphase Energy by 47.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 1,215 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 390 shares in the last quarter. Finally, TriaGen Wealth Management LLC raised its holdings in Enphase Energy by 4.0% during the first quarter. TriaGen Wealth Management LLC now owns 6,293 shares of the semiconductor company’s stock valued at $761,000 after buying an additional 241 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.