Enphase Energy, Inc. (NASDAQ:ENPH) Receives $153.65 Average Price Target from Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have earned an average recommendation of “Moderate Buy” from the twenty-nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $153.65.

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Truist Financial raised shares of Enphase Energy from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $145.00 in a report on Tuesday, January 23rd. Canaccord Genuity Group started coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective on the stock. Canaccord Genuity Group started coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective on the stock. Finally, Oppenheimer raised shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price objective on the stock in a report on Wednesday, February 7th.

Enphase Energy Stock Down 1.5 %

NASDAQ:ENPH opened at $109.35 on Wednesday. The firm has a market cap of $14.85 billion, a P/E ratio of 35.74, a P/E/G ratio of 3.17 and a beta of 1.48. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $231.42. The firm has a 50-day simple moving average of $116.75 and a two-hundred day simple moving average of $112.56.

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 analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. Analysts predict that Enphase Energy will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction on Friday, February 9th. The shares were 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 $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now directly 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. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Enphase Energy

A number of large investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans boosted its stake in shares of Enphase Energy by 0.8% during the third quarter. Thrivent Financial for Lutherans now owns 5,778 shares of the semiconductor company’s stock valued at $1,603,000 after purchasing an additional 48 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Enphase Energy by 1.7% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,222 shares of the semiconductor company’s stock valued at $852,000 after purchasing an additional 72 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Enphase Energy by 4.2% during the second quarter. O Shaughnessy Asset Management LLC now owns 1,820 shares of the semiconductor company’s stock valued at $305,000 after purchasing an additional 74 shares during the period. Huntington National Bank boosted its stake in shares of Enphase Energy by 6.9% during the second quarter. Huntington National Bank now owns 1,243 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 80 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Enphase Energy by 7.8% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,100 shares of the semiconductor company’s stock valued at $251,000 after purchasing an additional 80 shares during the period. 72.12% of the stock is owned by hedge funds and other 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.