Enphase Energy, Inc. (NASDAQ:ENPH) Receives $130.03 Average Price Target from Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been assigned a consensus recommendation of “Hold” from the thirty ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $128.53.

A number of brokerages have weighed in on ENPH. Guggenheim increased their price target on Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a research note on Wednesday, July 24th. Truist Financial decreased their price target on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Mizuho dropped their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Glj Research initiated coverage on shares of Enphase Energy in a report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price objective on the stock. Finally, HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 target price for the company in a report on Monday, June 10th.

Insiders Place Their Bets

In related news, CFO Mandy Yang bought 4,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the acquisition, the chief financial officer now owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mandy Yang bought 4,000 shares of Enphase Energy stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the purchase, the chief financial officer now directly owns 62,973 shares in the company, valued at $6,564,305.52. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Enphase Energy by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after buying an additional 192,854 shares in the last quarter. Baillie Gifford & Co. boosted its position in Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares during the period. Swedbank AB acquired a new position in Enphase Energy during the 1st quarter worth $424,130,000. Northern Trust Corp grew its stake in shares of Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after purchasing an additional 3,940 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Enphase Energy during the fourth quarter valued at $149,425,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Trading Down 4.7 %

Enphase Energy stock opened at $113.72 on Tuesday. The stock has a 50-day moving average price of $115.32 and a 200 day moving average price of $115.30. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $156.67. The stock has a market cap of $15.40 billion, a PE ratio of 59.23, a P/E/G ratio of 6.09 and a beta of 1.72. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $303.80 million for the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s quarterly revenue was down 57.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. Equities research analysts predict that Enphase Energy will post 1.24 earnings per share for the current fiscal year.

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.