Enphase Energy (NASDAQ:ENPH) Price Target Increased to $93.00 by Analysts at Guggenheim

Enphase Energy (NASDAQ:ENPH) had its price objective upped by analysts at Guggenheim from $92.00 to $93.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “sell” rating on the semiconductor company’s stock. Guggenheim’s target price suggests a potential downside of 20.86% from the stock’s current price.

Several other research analysts have also weighed in on ENPH. BMO Capital Markets dropped their price target on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. Piper Sandler upped their target price on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday. Jefferies Financial Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $135.00 to $111.00 in a report on Wednesday, April 24th. Royal Bank of Canada dropped their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, B. Riley lifted their target price on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $129.70.

Enphase Energy Stock Performance

Shares of ENPH opened at $117.52 on Wednesday. The company has a 50-day moving average of $115.21 and a two-hundred day moving average of $115.31. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of 61.21, a PEG ratio of 4.79 and a beta of 1.71. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78. Enphase Energy has a one year low of $73.49 and a one year high of $176.00.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 16.90% and a net margin of 9.12%. The firm had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. During the same period in the prior year, the business posted $1.16 EPS. The company’s revenue for the quarter was down 57.3% on a year-over-year basis. On average, equities research analysts expect that Enphase Energy will post 1.31 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the sale, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the sale, the director now directly owns 1,984,562 shares of the company’s stock, valued at $251,106,629.86. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. Donoghue Forlines LLC increased its position in shares of Enphase Energy by 4.8% during the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock valued at $258,000 after purchasing an additional 90 shares during the period. Fermata Advisors LLC raised its stake in shares of Enphase Energy by 1.4% in the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after buying an additional 100 shares in the last quarter. Hollencrest Capital Management lifted its holdings in shares of Enphase Energy by 3.3% during the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after acquiring an additional 100 shares during the period. Fulton Breakefield Broenniman LLC boosted its position in shares of Enphase Energy by 0.9% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock valued at $1,505,000 after acquiring an additional 107 shares in the last quarter. Finally, VitalStone Financial LLC raised its position in Enphase Energy by 14.3% in the fourth quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.