Enphase Energy (NASDAQ:ENPH) Announces Quarterly Earnings Results

Enphase Energy (NASDAQ:ENPH) issued its quarterly earnings results on Tuesday. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.19, FiscalAI reports. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.

Enphase Energy Price Performance

ENPH traded up $0.80 during trading on Tuesday, hitting $37.27. The company’s stock had a trading volume of 7,258,721 shares, compared to its average volume of 6,550,628. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 25.70 and a beta of 1.37. Enphase Energy has a twelve month low of $25.77 and a twelve month high of $70.78. The business’s fifty day simple moving average is $33.62 and its 200 day simple moving average is $34.43. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Enphase Energy from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $35.00 price objective on shares of Enphase Energy in a report on Wednesday, January 7th. Raymond James Financial assumed coverage on Enphase Energy in a research report on Monday, January 12th. They issued a “market perform” rating on the stock. Wall Street Zen downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Oppenheimer set a $67.00 price objective on shares of Enphase Energy and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat, Enphase Energy has a consensus rating of “Reduce” and a consensus price target of $41.13.

Insider Activity

In other news, EVP Mandy Yang sold 6,000 shares of Enphase Energy stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $33.01, for a total value of $198,060.00. Following the sale, the executive vice president owned 68,987 shares in the company, valued at $2,277,260.87. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thurman J. Rodgers sold 150,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the sale, the director directly owned 1,733,596 shares of the company’s stock, valued at $50,499,651.48. This represents a 7.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Arrowstreet Capital Limited Partnership lifted its holdings in Enphase Energy by 2,335.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 798,090 shares of the semiconductor company’s stock valued at $28,244,000 after acquiring an additional 765,322 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Enphase Energy by 212.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 330,711 shares of the semiconductor company’s stock worth $11,704,000 after purchasing an additional 224,705 shares during the period. Legal & General Group Plc increased its position in shares of Enphase Energy by 51.3% during the 3rd quarter. Legal & General Group Plc now owns 611,176 shares of the semiconductor company’s stock worth $21,630,000 after purchasing an additional 207,321 shares during the last quarter. Man Group plc lifted its position in Enphase Energy by 50.8% in the second quarter. Man Group plc now owns 605,771 shares of the semiconductor company’s stock valued at $24,019,000 after buying an additional 204,073 shares during the last quarter. Finally, MUFG Securities EMEA plc lifted its position in Enphase Energy by 357.6% in the second quarter. MUFG Securities EMEA plc now owns 228,800 shares of the semiconductor company’s stock valued at $9,072,000 after buying an additional 178,800 shares during the last quarter. Hedge funds and other institutional investors 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.