Enphase Energy, Inc. (NASDAQ:ENPH) Receives $151.03 Average PT from Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH) has been given an average rating of “Moderate Buy” by the thirty brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $149.94.

ENPH has been the topic of a number of research analyst reports. Susquehanna reaffirmed a “positive” rating and set a $140.00 price target on shares of Enphase Energy in a research report on Friday, April 5th. DZ Bank initiated coverage on Enphase Energy in a research note on Wednesday. They issued a “hold” rating and a $116.00 price target on the stock. Truist Financial raised shares of Enphase Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $145.00 in a research report on Tuesday, January 23rd. StockNews.com lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Finally, Citigroup cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $126.00 to $121.00 in a report on Friday, April 5th.

Insider Activity

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold 34,285 shares of company stock worth $4,054,428 in the last quarter. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. increased its holdings in Enphase Energy by 42.5% in the 1st quarter. Panagora Asset Management Inc. now owns 4,030 shares of the semiconductor company’s stock worth $813,000 after acquiring an additional 1,201 shares during the last quarter. Raymond James Trust N.A. purchased a new position in shares of Enphase Energy in the first quarter worth about $249,000. Cibc World Market Inc. raised its position in shares of Enphase Energy by 219.1% in the first quarter. Cibc World Market Inc. now owns 5,320 shares of the semiconductor company’s stock valued at $1,073,000 after purchasing an additional 3,653 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Enphase Energy by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 398,666 shares of the semiconductor company’s stock valued at $80,436,000 after buying an additional 6,401 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Enphase Energy by 8.7% during the first quarter. Blair William & Co. IL now owns 2,263 shares of the semiconductor company’s stock worth $457,000 after acquiring an additional 182 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $109.17 on Friday. The firm’s 50 day simple moving average is $120.17 and its 200 day simple moving average is $112.17. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.50. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 35.68, a P/E/G ratio of 3.06 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. As a group, sell-side analysts forecast that Enphase Energy will post 2.09 earnings per share for the current 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.