Enphase Energy, Inc. (NASDAQ:ENPH) Given Average Recommendation of “Hold” by Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH) has earned an average rating of “Hold” from the twenty-six brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $40.6542.

A number of analysts have issued reports on ENPH shares. Roth Mkm reissued a “buy” rating and issued a $55.00 target price (up from $45.00) on shares of Enphase Energy in a research report on Wednesday, February 4th. The Goldman Sachs Group lifted their price objective on Enphase Energy from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Mizuho set a $39.00 target price on Enphase Energy in a research note on Wednesday, February 4th. Raymond James Financial began coverage on Enphase Energy in a report on Monday, January 12th. They set a “market perform” rating for the company. Finally, Wells Fargo & Company cut their price target on shares of Enphase Energy from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $36.45 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. The stock has a market capitalization of $4.80 billion, a P/E ratio of 36.09 and a beta of 1.26. The firm’s 50-day moving average is $38.12 and its two-hundred day moving average is $36.24. Enphase Energy has a 12 month low of $25.77 and a 12 month high of $54.43.

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

Insiders Place Their Bets

In related news, Director Richard Mora sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $52.05, for a total value of $57,255.00. Following the sale, the director owned 9,370 shares of the company’s stock, valued at $487,708.50. This trade represents a 10.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thurman J. Rodgers sold 137,250 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the transaction, the director owned 1,597,641 shares of the company’s stock, valued at $69,673,124.01. This trade represents a 7.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Woodline Partners LP boosted its holdings in shares of Enphase Energy by 37.9% in the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock valued at $694,000 after buying an additional 3,077 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Enphase Energy during the first quarter worth $121,000. Arrowstreet Capital Limited Partnership purchased a new stake in Enphase Energy during the second quarter worth $1,299,000. Guggenheim Capital LLC grew its holdings in Enphase Energy by 14.1% in the second quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock valued at $1,049,000 after purchasing an additional 3,273 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Enphase Energy by 11.9% in the second quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock valued at $9,468,000 after buying an additional 25,450 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.