Enphase Energy (NASDAQ:ENPH) Releases Quarterly Earnings Results, Misses Estimates By $0.41 EPS

Enphase Energy (NASDAQ:ENPH - Get Free Report) released its earnings results on Tuesday. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.41), Zacks reports. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%.

Enphase Energy Stock Up 3.5 %

Shares of ENPH traded up $1.81 during midday trading on Tuesday, reaching $53.43. 5,972,043 shares of the stock were exchanged, compared to its average volume of 3,989,679. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 72.20 and a beta of 1.94. The firm has a 50 day simple moving average of $59.14 and a 200-day simple moving average of $68.36. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy has a 12-month low of $46.05 and a 12-month high of $141.63.

Insider Activity at Enphase Energy

In other news, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares of the company's stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ENPH. Wells Fargo & Company cut their target price on Enphase Energy from $77.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Jefferies Financial Group reduced their price target on shares of Enphase Energy from $54.00 to $44.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Glj Research restated a "sell" rating and set a $50.69 target price on shares of Enphase Energy in a report on Tuesday, February 4th. Barclays cut their price objective on Enphase Energy from $86.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Craig Hallum dropped their target price on Enphase Energy from $123.00 to $101.00 and set a "buy" rating on the stock in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $82.23.

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.

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