Enphase Energy, Inc.
In the published model solve dated 2026-Q2, anchored at $37.27, Enphase Energy, Inc. (ENPH) is priced for today's economics sustained for ~14.4 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Revenue fell to $282.9 million in the first quarter of 2026 from $356.1 million a year earlier, and sell-through demand in the United States dropped 18% year on year after the federal residential clean energy credit expired [Source: Q1 2026 earnings release, April 28, 2026]. • The durable asset is manufacturing margin: reported gross margin held at 35.5% in the quarter even after 4.3 points of tariff drag and a 6.7 point charge from selling tax credits at a discount, on a balance sheet carryin
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477 institutional managers reported holding ENPH in 13F filings for the quarter ended 2026-03-31. 81 opened new positions that quarter. Held by BlackRock, Vanguard Group, Alyeska Investment Group, among others. On the short side, 24.2M shares were sold short as of the 2026-06-15 count, about 18% of shares outstanding (3.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ENPH has cut its share count 2.8% over the past five years, spending $1.23B on repurchases. It pays no dividend. Cash returned over the past three years: $731.32M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at ENPH over the trailing three years: 2023: 4 buys totaling $4.10M; 2024: 7 buys totaling $1.51M; 2025: 4 buys totaling $802k; 2026: 4 buys totaling $651k. 9 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ENPH's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2022-07-27 | +16.6% | +14.7% |
| 2022-10-26 | +15.2% | -8.4% |
| 2023-02-14 | -1.9% | +9.4% |
| 2024-04-24 | -3.0% | -3.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ENPH's latest 8-K filings: 2026-08-10 (items 7.01, 9.01); 2026-07-28 (items 2.02, 9.01); 2026-06-18 (items 8.01); 2026-06-15 (items 5.02); 2026-05-15 (items 5.02, 5.07, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.