Brokerages Set Enphase Energy, Inc. (NASDAQ:ENPH) Target Price at $45.61

Enphase Energy, Inc. (NASDAQ:ENPH) has received an average rating of “Hold” from the twenty-three brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $45.7941.

A number of research analysts have commented on ENPH shares. Deutsche Bank Aktiengesellschaft upped their price target on Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. UBS Group set a $56.00 price objective on Enphase Energy in a report on Wednesday, July 29th. Evercore reissued a “positive” rating and set a $41.00 target price on shares of Enphase Energy in a research note on Monday. Oppenheimer lowered their target price on Enphase Energy from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada dropped their target price on Enphase Energy from $54.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Shanker Trivedi acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, the director owned 1,000 shares of the company’s stock, valued at approximately $53,910. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Mora sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.36, for a total transaction of $60,540.00. Following the sale, the director directly owned 10,422 shares in the company, valued at approximately $420,631.92. The trade was a 12.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 4,200 shares of company stock valued at $179,000. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Enphase Energy during the fourth quarter worth about $118,190,000. Handelsbanken Fonder AB increased its stake in shares of Enphase Energy by 154.9% during the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock worth $103,953,000 after buying an additional 1,283,052 shares during the period. Bank of New York Mellon Corp acquired a new stake in Enphase Energy in the second quarter valued at approximately $43,921,000. Invesco Ltd. raised its holdings in Enphase Energy by 36.2% in the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after acquiring an additional 839,468 shares in the last quarter. Finally, Sora Investors LLC purchased a new position in Enphase Energy in the fourth quarter worth approximately $25,998,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Price Performance

Enphase Energy stock opened at $37.58 on Wednesday. The company’s 50 day simple moving average is $43.70 and its 200-day simple moving average is $44.07. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. Enphase Energy has a 1 year low of $25.77 and a 1 year high of $73.74. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 37.58 and a beta of 1.64.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%.The company had revenue of $291.85 million for the quarter, compared to analysts’ expectations of $289.76 million. During the same period in the previous year, the business posted $0.69 EPS. The business’s revenue for the quarter was down 19.6% on a year-over-year basis. As a group, equities research analysts expect that Enphase Energy will post 0.78 earnings per share for the current 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.