Enphase Energy, Inc. (NASDAQ:ENPH) Receives Consensus Rating of “Hold” from Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given an average rating of “Hold” by the thirty-one ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $128.89.

A number of equities analysts have recently weighed in on ENPH shares. Guggenheim increased their price target on Enphase Energy from $92.00 to $93.00 and gave the stock a “sell” rating in a report on Wednesday, July 24th. BMO Capital Markets lifted their price target on shares of Enphase Energy from $110.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price objective (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. William Blair started coverage on Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating on the stock. Finally, Barclays dropped their price objective on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Westfield Capital Management Co. LP purchased a new position in Enphase Energy in the fourth quarter valued at approximately $41,068,000. Northern Trust Corp raised its stake in Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after acquiring an additional 3,940 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Enphase Energy by 48.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after acquiring an additional 29,013 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Enphase Energy by 364.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after acquiring an additional 85,284 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Enphase Energy by 279.6% during the first quarter. Cetera Investment Advisers now owns 24,248 shares of the semiconductor company’s stock worth $2,934,000 after purchasing an additional 17,861 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Trading Up 6.3 %

Shares of ENPH stock opened at $118.53 on Wednesday. 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 has a twelve month low of $73.49 and a twelve month high of $141.63. The company’s 50-day moving average price is $112.41 and its 200-day moving average price is $114.72. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 5.84 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 earnings per share. As a group, equities analysts predict that Enphase Energy will post 1.19 earnings per share for the current year.

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.