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

Enphase Energy, Inc. (NASDAQ:ENPH) – Research analysts at Northland Capmk lowered their Q2 2024 earnings estimates for shares of Enphase Energy in a research report issued to clients and investors on Wednesday, April 24th. Northland Capmk analyst G. Richard now expects that the semiconductor company will earn $0.14 per share for the quarter, down from their previous forecast 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.

Other equities analysts have also issued research reports about the stock. Mizuho dropped their price target 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. Truist Financial decreased 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, April 23rd. TD Cowen lifted their price target on Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price objective on the stock. in a report on Wednesday, April 24th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $137.41.

Enphase Energy Stock Performance

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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings 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 period. Norges Bank bought a new position in Enphase Energy during the 4th quarter worth about $149,425,000. Nordea Investment Management AB raised its stake in shares of Enphase Energy by 158.8% in the 4th 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 period. Westfield Capital Management Co. LP bought a new stake in shares of Enphase Energy in the fourth quarter valued at about $41,068,000. Finally, Panagora Asset Management Inc. boosted its position in shares of 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 worth $34,711,000 after buying an additional 255,175 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 20,000 shares of the business’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 transaction, the director now owns 118,360 shares of the company’s stock, valued at approximately $12,391,108.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now directly owns 118,360 shares in the company, valued at $12,391,108.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 54,285 shares of company stock worth $6,148,228. Company insiders own 3.40% 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.