Roth Mkm Reiterates “Buy” Rating for Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH)‘s stock had its “buy” rating reiterated by research analysts at Roth Mkm in a report released on Wednesday, Benzinga reports. They currently have a $140.00 price objective on the semiconductor company’s stock. Roth Mkm’s price objective suggests a potential upside of 28.59% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Oppenheimer boosted their price objective on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Canaccord Genuity Group reduced their target price on Enphase Energy from $132.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company upgraded Enphase Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $98.00 to $141.00 in a research report on Monday, January 8th. Finally, B. Riley lifted their target price on Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $141.82.

Enphase Energy Stock Down 4.1 %

Shares of ENPH opened at $108.87 on Wednesday. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $228.36. The stock’s 50 day moving average is $119.28 and its two-hundred day moving average is $111.97. The firm has a market cap of $14.81 billion, a P/E ratio of 35.58, a PEG ratio of 3.16 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Analysts predict that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other 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 transaction of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Richard Mora sold 24,285 shares of the firm’s 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 completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock valued at $4,054,428 in the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently made changes to their positions in ENPH. Baillie Gifford & Co. boosted its holdings in shares of Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares during the last quarter. Norges Bank acquired a new stake in shares of Enphase Energy during the fourth quarter worth $149,425,000. Nordea Investment Management AB raised its position in shares of Enphase Energy by 158.8% in the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after buying an additional 501,385 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Enphase Energy in the 4th quarter worth $41,068,000. Finally, Panagora Asset Management Inc. raised its position in shares of Enphase Energy by 3,396.9% in the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after buying an additional 255,175 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.