Enphase Energy (NASDAQ:ENPH) Releases Quarterly Earnings Results

Key Points

• Earnings beat: Enphase reported $0.47 EPS vs. $0.43 expected and revenue of $282.9M (roughly in line with estimates), with a net margin of 11.69% and ROE of 20.31%.
• Stock and valuation reaction: ENPH fell about 2.7% to $34.30 on higher volume; the company has a $4.52B market cap, a P/E of 26.6, and a consensus analyst rating of "Hold" with an average target of $42.07.
• Insider activity: Director Thurman J. Rodgers sold 137,250 shares for roughly $5.99M while CEO Badrinarayanan Kothandaraman purchased 5,000 shares at $51.98, and insiders own about 2.9% of the stock.

Enphase Energy (NASDAQ:ENPH - Get Free Report) announced its quarterly earnings results on Tuesday. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04, FiscalAI reports. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The company had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.25 million.

Enphase Energy Trading Down 2.7%

ENPH stock traded down $0.94 on Tuesday, hitting $34.30. 8,085,975 shares of the company were exchanged, compared to its average volume of 6,726,186. Enphase Energy has a twelve month low of $25.77 and a twelve month high of $54.43. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.07 and a quick ratio of 1.84. The business's fifty day moving average is $39.60 and its two-hundred day moving average is $36.32. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 26.59 and a beta of 1.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ENPH shares. Morgan Stanley reissued an "underweight" rating and issued a $30.00 price objective on shares of Enphase Energy in a research report on Wednesday, February 4th. Glj Research set a $21.70 price objective on shares of Enphase Energy in a research report on Thursday, February 5th. Citigroup cut their price objective on shares of Enphase Energy from $41.00 to $37.00 and set a "neutral" rating for the company in a research report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on shares of Enphase Energy from $33.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, February 4th. Finally, Jefferies Financial Group cut their price objective on shares of Enphase Energy from $57.00 to $54.00 and set a "buy" rating for the company in a research report on Thursday, March 26th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have issued a Sell rating to the company's stock. According to MarketBeat, Enphase Energy currently has a consensus rating of "Hold" and an average price target of $42.07.

Insider Buying and Selling

In related news, Director Thurman J. Rodgers sold 137,250 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the completion of the transaction, the director owned 1,597,641 shares of the company's stock, valued at approximately $69,673,124.01. This represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the company's stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average cost of $51.98 per share, with a total value of $259,900.00. Following the transaction, the chief executive officer directly owned 1,640,632 shares of the company's stock, valued at $85,280,051.36. The trade was a 0.31% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Enphase Energy by 431.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 514 shares during the last quarter. Danske Bank A S acquired a new position in Enphase Energy during the third quarter worth approximately $39,000. Rakuten Securities Inc. increased its position in Enphase Energy by 33.6% during the second quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 410 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in Enphase Energy during the third quarter worth approximately $72,000. Finally, Quarry LP increased its position in shares of Enphase Energy by 291.6% in the third quarter. Quarry LP now owns 2,671 shares of the semiconductor company's stock worth $95,000 after acquiring an additional 1,989 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company's product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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