Q2 2024 EPS Estimates for Enphase Energy, Inc. Reduced by Northland Capmk (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Equities researchers at Northland Capmk lowered their Q2 2024 EPS estimates for Enphase Energy in a report issued on Wednesday, April 24th. Northland Capmk analyst G. Richard now expects that the semiconductor company will post earnings of $0.14 per share for the quarter, down from their prior estimate of $0.29. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. Northland Capmk also issued estimates for Enphase Energy’s Q3 2024 earnings at $0.41 EPS, FY2024 earnings at $1.13 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.71 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $1.08 EPS and FY2025 earnings at $3.31 EPS.

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

Other equities research analysts have also issued research reports about the stock. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Jefferies Financial Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $135.00 to $111.00 in a research note on Wednesday, April 24th. Craig Hallum dropped their price objective on shares of Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Canaccord Genuity Group dropped their price objective on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Finally, Piper Sandler reissued a “neutral” rating and set a $111.00 price objective (down previously from $113.00) on shares of Enphase Energy in a research note on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $137.41.

Enphase Energy Trading Down 4.5 %

Shares of ENPH opened at $108.76 on Monday. The firm’s 50-day moving average price is $117.46 and its 200-day moving average price is $111.56. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 4.10 and a beta of 1.47. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after acquiring an additional 4,078,723 shares during the last quarter. Norges Bank bought a new position in Enphase Energy during the fourth quarter valued at $149,425,000. Nordea Investment Management AB lifted its position in Enphase Energy by 158.8% during the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after purchasing an additional 501,385 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Enphase Energy during the fourth quarter valued at $41,068,000. Finally, Panagora Asset Management Inc. lifted its position in Enphase Energy by 3,396.9% during the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock valued at $34,711,000 after purchasing an additional 255,175 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, 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 transaction of $2,093,800.00. Following the completion of the transaction, the director now owns 118,360 shares in the company, valued at $12,391,108.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price 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 54,285 shares of company stock valued at $6,148,228 over the last three months. Corporate insiders own 3.40% 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.