Enphase Energy (ENPH) Scheduled to Post Quarterly Earnings on Tuesday

Enphase Energy (NASDAQ:ENPH) is scheduled to be announcing its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Enphase Energy has set its Q1 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data 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. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The company had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. On average, analysts expect Enphase Energy to post $2 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Enphase Energy Trading Down 2.5 %

Shares of ENPH opened at $106.48 on Friday. The business has a 50-day moving average of $119.85 and a 200 day moving average of $112.08. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The firm has a market cap of $14.48 billion, a P/E ratio of 34.80, a price-to-earnings-growth ratio of 3.02 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59.

Analysts Set New Price Targets

Several research analysts have commented on ENPH shares. Piper Sandler cut their target price on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a research note on Friday, January 12th. Oppenheimer upgraded Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 target price for the company in a research note on Wednesday, February 7th. Mizuho dropped their price target on Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Friday. Citigroup downgraded Enphase Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $126.00 to $121.00 in a research report on Friday, April 5th. Finally, DZ Bank initiated coverage on Enphase Energy in a research report on Wednesday. They set a “hold” rating and a $116.00 price target for the company. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $149.88.

Insider Activity

In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred 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 sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Mora sold 24,285 shares of Enphase Energy 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 sale, the director now owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,285 shares of company stock valued at $4,054,428. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently added to or reduced their stakes in the stock. LM Advisors LLC bought a new stake in Enphase Energy in the fourth quarter worth $26,000. First Capital Advisors Group LLC. bought a new position in shares of Enphase Energy during the second quarter valued at $28,000. KB Financial Partners LLC bought a new position in shares of Enphase Energy during the first quarter valued at $28,000. Resurgent Financial Advisors LLC bought a new position in shares of Enphase Energy during the fourth quarter valued at $29,000. Finally, Coppell Advisory Solutions Corp. bought a new position in shares of Enphase Energy during the fourth quarter valued at $42,000. 72.12% of the stock is owned by 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.