Enphase Energy (NASDAQ:ENPH) Price Target Raised to $115.00

Enphase Energy (NASDAQ:ENPH) had its target price boosted by investment analysts at BMO Capital Markets from $110.00 to $115.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ price target indicates a potential downside of 2.14% from the company’s previous close.

A number of other analysts have also issued reports on ENPH. Guggenheim boosted their price target on Enphase Energy from $92.00 to $93.00 and gave the company a “sell” rating in a report on Wednesday. B. Riley boosted their price target on Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Roth Mkm reiterated a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a report on Wednesday, April 24th. Barclays lowered their price target on Enphase Energy from $134.00 to $131.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Royal Bank of Canada lowered their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average target price of $129.70.

Enphase Energy Trading Up 0.5 %

ENPH opened at $117.52 on Wednesday. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of 61.21, a P/E/G ratio of 4.79 and a beta of 1.71. The stock’s 50 day moving average price is $115.21 and its 200-day moving average price is $115.31. Enphase Energy has a one year low of $73.49 and a one year high of $176.00. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last released its 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 business had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 16.90%. The company’s quarterly revenue was down 57.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, equities analysts forecast that Enphase Energy will post 1.31 EPS for the current year.

Insider Activity at Enphase Energy

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

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. CVA Family Office LLC acquired a new stake in Enphase Energy during the 4th quarter worth about $31,000. Assenagon Asset Management S.A. grew its position in shares of Enphase Energy by 348.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after acquiring an additional 173,628 shares during the period. Altfest L J & Co. Inc. acquired a new stake in shares of Enphase Energy during the 4th quarter valued at about $472,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Enphase Energy during the 4th quarter valued at about $119,000. Finally, Blue Trust Inc. grew its position in shares of Enphase Energy by 194.6% during the 4th quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 218 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

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.