Enphase Energy (NASDAQ:ENPH) Price Target Raised to $64.00

Enphase Energy (NASDAQ:ENPH) had its target price increased by Jefferies Financial Group from $41.00 to $64.00 in a report released on Friday,MarketScreener reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 17.24% from the company’s current price.

Several other research analysts have also issued reports on ENPH. Glj Research reaffirmed a “sell” rating and set a $21.70 target price on shares of Enphase Energy in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Barclays dropped their price target on Enphase Energy from $31.00 to $30.00 and set an “underweight” rating on the stock in a research note on Monday, May 4th. Morgan Stanley set a $27.00 price objective on shares of Enphase Energy in a research report on Friday, May 8th. Finally, Weiss Ratings cut shares of Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 5th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.65.

Enphase Energy Stock Down 0.6%

ENPH traded down $0.34 during trading on Friday, hitting $54.59. The stock had a trading volume of 5,042,504 shares, compared to its average volume of 9,313,402. The company has a market capitalization of $7.19 billion, a PE ratio of 54.05 and a beta of 1.60. Enphase Energy has a twelve month low of $25.77 and a twelve month high of $73.74. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80. The stock has a 50 day simple moving average of $45.52 and a two-hundred day simple moving average of $40.76.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The business had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.28 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was down 20.6% on a year-over-year basis. On average, research analysts predict that Enphase Energy will post 0.84 earnings per share for the current year.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at approximately $111,080,160. The trade was a 0.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Mora sold 700 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $64.20, for a total transaction of $44,940.00. Following the completion of the sale, the director directly owned 13,922 shares in the company, valued at $893,792.40. This trade represents a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently added to or reduced their stakes in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 514 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its stake in shares of Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after buying an additional 350 shares during the last quarter. Stance Capital LLC acquired a new stake in Enphase Energy during the third quarter worth about $32,000. Activest Wealth Management grew its holdings in Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 1,040 shares during the period. Finally, Ascentis Independent Advisors purchased a new position in Enphase Energy during the first quarter valued at approximately $33,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.