Roth MKM checks suggest distributors ‘flat’ with Enphase microinverter volumes

Roth MKM analyst Philip Shen tells investors in a research note that the firm’s checks suggest large U.S. distributors may be flat with their Enphase Energy (ENPH) microinverter volumes in Q3 vs. Q2, which compares with consensus expectations for Enphase revenue to grow 6% sequentially in Q3. The firm also says that it appears that there may be too much SolarEdge (SEDG) residential inverter inventory in the U.S. as well and that additional checks suggest Tesla (TSLA) is “ramping hard.”