Enphase Energy (ENPH) Set to Announce Earnings on Tuesday

Enphase Energy (NASDAQ:ENPH - Get Free Report) is set to issue its quarterly earnings data 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.Parties that wish to listen to the company's conference call can do so using this link.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. 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 Stock Performance

Shares of ENPH stock traded down $2.00 during trading hours on Tuesday, hitting $110.47. 2,932,108 shares of the company were exchanged, compared to its average volume of 4,092,153. The firm has a fifty day simple moving average of $120.24 and a 200 day simple moving average of $112.26. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $231.42. The stock has a market capitalization of $15.02 billion, a price-to-earnings ratio of 36.76, a P/E/G ratio of 3.24 and a beta of 1.47.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Oppenheimer upgraded shares of Enphase Energy from a "market perform" rating to an "outperform" rating and set a $133.00 price objective for the company in a research note on Wednesday, February 7th. Royal Bank of Canada assumed coverage on shares of Enphase Energy in a research note on Wednesday, February 14th. They issued an "outperform" rating and a $140.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of Enphase Energy from $106.00 to $110.00 and gave the company a "market perform" rating in a research note on Wednesday, February 7th. Barclays lifted their price objective on shares of Enphase Energy from $106.00 to $115.00 and gave the company an "equal weight" rating in a research note on Thursday, February 8th. Finally, Truist Financial upgraded shares of Enphase Energy from a "hold" rating to a "buy" rating and lifted their price objective for the company from $85.00 to $145.00 in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $151.03.

Insider Buying and Selling

In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The sale was disclosed in a filing with the SEC, which is available through this link. In other 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 value of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Enphase Energy in the 4th quarter valued at approximately $325,230,000. Clearbridge Investments LLC lifted its stake in shares of Enphase Energy by 86.2% in the 1st quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company's stock valued at $161,657,000 after purchasing an additional 370,992 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Enphase Energy by 67.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 884,240 shares of the semiconductor company's stock valued at $185,938,000 after purchasing an additional 356,495 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Enphase Energy by 86.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 667,303 shares of the semiconductor company's stock valued at $176,808,000 after purchasing an additional 309,665 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Enphase Energy by 22.9% in the 4th quarter. Legal & General Group Plc now owns 1,336,324 shares of the semiconductor company's stock valued at $176,582,000 after purchasing an additional 248,635 shares during the period. 72.12% of the stock is currently 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.