Enphase Energy (NASDAQ:ENPH) Given New $145.00 Price Target at TD Cowen

Enphase Energy (NASDAQ:ENPH) had its price target upped by TD Cowen from $140.00 to $145.00 in a research report report published on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also weighed in on ENPH. KeyCorp restated a sector weight rating on shares of Enphase Energy in a report on Thursday, January 4th. Oppenheimer upgraded Enphase Energy from a market perform rating to an outperform rating and set a $133.00 target price for the company in a report on Wednesday, February 7th. B. Riley boosted their target price on Enphase Energy from $121.00 to $149.00 and gave the stock a buy rating in a report on Monday. Canaccord Genuity Group initiated coverage on Enphase Energy in a report on Tuesday, January 16th. They issued a buy rating and a $142.00 target price for the company. Finally, Royal Bank of Canada initiated coverage on Enphase Energy in a report on Wednesday, February 14th. They issued an outperform rating and a $140.00 target price for the company. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $141.00.

Enphase Energy Trading Down 5.6 %

NASDAQ:ENPH opened at $107.17 on Wednesday. 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 has a fifty-two week low of $73.49 and a fifty-two week 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 stock has a market cap of $14.57 billion, a PE ratio of 55.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. As a group, equities research analysts forecast that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction 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 approximately $13,605,587.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction 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 approximately $13,605,587.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. In the last three months, insiders sold 34,285 shares of company stock valued at $4,054,428. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors have recently added to or reduced their stakes in ENPH. CWM LLC lifted its holdings in Enphase Energy by 6.3% during the 3rd quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock valued at $485,000 after purchasing an additional 239 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of Enphase Energy by 24.3% in the third quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock worth $1,795,000 after acquiring an additional 2,921 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Enphase Energy by 108.3% in the third quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 325 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Enphase Energy by 155.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 820 shares during the last quarter. Finally, Oak Thistle LLC bought a new position in shares of Enphase Energy in the third quarter worth about $259,000. 72.12% of the stock is owned by institutional investors.

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.