Enphase Energy, Inc. (NASDAQ:ENPH) Receives $47.11 Consensus Target Price from Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given a consensus rating of “Hold” by the twenty-five brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $46.1958.

ENPH has been the subject of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Enphase Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $56.00 price target for the company. Oppenheimer cut their target price on shares of Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Roth Capital restated a “buy” rating on shares of Enphase Energy in a research report on Friday, May 22nd. Susquehanna raised their price target on shares of Enphase Energy from $32.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 29th.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $67.50 per share, with a total value of $337,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,645,632 shares in the company, valued at $111,080,160. The trade was a 0.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Shanker Trivedi acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average cost of $53.91 per share, for a total transaction of $53,910.00. Following the completion of the purchase, the director owned 1,000 shares of the company’s stock, valued at $53,910. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Handelsbanken Fonder AB boosted its stake in shares of Enphase Energy by 154.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock valued at $103,953,000 after purchasing an additional 1,283,052 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Enphase Energy during the second quarter worth $48,000. Assenagon Asset Management S.A. raised its stake in Enphase Energy by 102.6% during the second quarter. Assenagon Asset Management S.A. now owns 55,495 shares of the semiconductor company’s stock worth $2,733,000 after buying an additional 28,100 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of Enphase Energy in the 1st quarter valued at about $151,000. Finally, Militia Capital Management LLC bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $688,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH opened at $39.46 on Friday. The company has a market cap of $5.20 billion, a PE ratio of 39.07 and a beta of 1.62. The firm has a 50-day moving average of $51.95 and a 200-day moving average of $43.60. Enphase Energy has a one year low of $25.77 and a one year high of $73.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating 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 company had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.27 million. During the same period last year, the firm posted $0.68 earnings per share. The business’s revenue was down 20.6% on a year-over-year basis. As a group, equities analysts forecast that Enphase Energy will post 0.82 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.