Enphase Energy (NASDAQ:ENPH) Announces Earnings Results

Enphase Energy (NASDAQ:ENPH) posted its quarterly earnings data on Tuesday. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06), Briefing.com reports. The business had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The company’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Enphase Energy updated its Q3 2024 guidance to EPS.

Enphase Energy Price Performance

Enphase Energy stock traded up $13.27 during mid-day trading on Wednesday, hitting $116.91. 14,726,118 shares of the company were exchanged, compared to its average volume of 4,194,697. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78. The business’s 50 day simple moving average is $115.17 and its two-hundred day simple moving average is $115.28. The company has a market capitalization of $15.91 billion, a P/E ratio of 59.45, a PEG ratio of 4.84 and a beta of 1.71. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $182.26.

Analysts Set New Price Targets

A number of research analysts have commented on ENPH shares. Jefferies Financial Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $135.00 to $111.00 in a research note on Wednesday, April 24th. B. Riley lifted their target price on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Susquehanna lifted their target price on shares of Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a report on Monday, July 15th. TD Cowen lifted their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a report on Wednesday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $129.77.

Insiders Place Their Bets

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Enphase Energy news, CFO Mandy Yang acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the completion of the acquisition, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 344,526 shares of company stock valued at $43,139,775. 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.