Brokerages Set Enphase Energy, Inc. (NASDAQ:ENPH) Price Target at $40.57

Enphase Energy, Inc. (NASDAQ:ENPH) has received an average rating of “Reduce” from the thirty-one research firms that are presently covering the stock, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $40.5737.

A number of equities analysts recently weighed in on ENPH shares. Weiss Ratings restated a “sell (d)” rating on shares of Enphase Energy in a research report on Wednesday, October 8th. Zacks Research lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. TD Cowen dropped their price target on Enphase Energy from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, October 29th. Northland Securities increased their price target on Enphase Energy from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 29th. Finally, Barclays boosted their price objective on Enphase Energy from $29.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 8th.

Insider Activity

In related news, EVP Mandy Yang sold 6,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $33.01, for a total value of $198,060.00. Following the completion of the sale, the executive vice president owned 68,987 shares of the company’s stock, valued at approximately $2,277,260.87. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average price of $30.93 per share, with a total value of $309,300.00. Following the completion of the transaction, the chief executive officer owned 1,630,632 shares of the company’s stock, valued at $50,435,447.76. The trade was a 0.62% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Enphase Energy

Several institutional investors have recently made changes to their positions in ENPH. Swiss Life Asset Management Ltd grew its position in Enphase Energy by 5.5% in the third quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock worth $217,000 after acquiring an additional 319 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Enphase Energy by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 8,616 shares of the semiconductor company’s stock valued at $342,000 after purchasing an additional 369 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Enphase Energy by 19.2% in the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 392 shares during the last quarter. Tempus Wealth Planning LLC grew its holdings in shares of Enphase Energy by 4.8% during the 3rd quarter. Tempus Wealth Planning LLC now owns 8,556 shares of the semiconductor company’s stock worth $303,000 after purchasing an additional 394 shares during the period. Finally, Fermata Advisors LLC increased its position in shares of Enphase Energy by 5.8% during the 2nd quarter. Fermata Advisors LLC now owns 7,330 shares of the semiconductor company’s stock worth $291,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Up 0.7%

NASDAQ ENPH opened at $34.00 on Tuesday. The business has a fifty day moving average price of $30.78 and a 200 day moving average price of $34.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.88 and a current ratio of 2.04. The company has a market cap of $4.45 billion, a P/E ratio of 23.45 and a beta of 1.35. Enphase Energy has a one year low of $25.77 and a one year high of $76.90.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.30. The company had revenue of $410.43 million for the quarter, compared to analysts’ expectations of $364.64 million. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. Research analysts anticipate that Enphase Energy will post 2.08 EPS for the current fiscal year.

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.