Enphase Energy, Inc. Forecasted to Earn Q1 2024 Earnings of $0.03 Per Share (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Equities research analysts at KeyCorp issued their Q1 2024 earnings per share estimates for shares of Enphase Energy in a report released on Monday, April 22nd. KeyCorp analyst S. Karp anticipates that the semiconductor company will post earnings per share of $0.03 for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $2.01 per share. KeyCorp also issued estimates for Enphase Energy’s Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.88 EPS and Q4 2024 earnings at $0.92 EPS.

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 analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%.

A number of other research firms have also recently commented on ENPH. Roth Mkm reissued a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a report on Wednesday. Truist Financial reduced their target price on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays lifted their target price on Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Citigroup cut Enphase Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Finally, BMO Capital Markets reduced their target price on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $141.00.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $107.17 on Thursday. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The business’s 50-day simple moving average is $119.28 and its two-hundred day simple moving average is $111.97. The stock has a market cap of $14.57 billion, a PE ratio of 55.82, a P/E/G ratio of 3.24 and a beta of 1.47. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36.

Insider Activity at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Mora sold 24,285 shares of the business’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 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 approximately $376,964.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,285 shares of company stock worth $4,054,428. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of large investors have recently bought and sold shares of the business. Donoghue Forlines LLC raised its stake in Enphase Energy by 4.8% in the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after buying an additional 90 shares in the last quarter. Fermata Advisors LLC raised its stake in Enphase Energy by 1.4% in the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after buying an additional 100 shares in the last quarter. Fulton Breakefield Broenniman LLC raised its stake in Enphase Energy by 0.9% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock worth $1,505,000 after buying an additional 107 shares in the last quarter. VitalStone Financial LLC raised its stake in Enphase Energy by 14.3% in the fourth quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock worth $117,000 after buying an additional 111 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its stake in Enphase Energy by 5.5% in the third quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after buying an additional 131 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

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.