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

Enphase Energy, Inc. (NASDAQ:ENPH) has received an average recommendation of “Hold” from the twenty-nine ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $179.79.

Several research analysts have recently weighed in on ENPH shares. TheStreet cut Enphase Energy from a “b-” rating to a “c+” rating in a report on Wednesday, August 16th. BNP Paribas started coverage on Enphase Energy in a report on Friday, October 20th. They set a “neutral” rating and a $131.00 target price on the stock. Scotiabank cut Enphase Energy from a “sector outperform” rating to a “sector perform” rating and set a $140.00 target price on the stock. in a report on Thursday, October 19th. JPMorgan Chase & Co. lowered their target price on Enphase Energy from $169.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Finally, Oppenheimer lowered shares of Enphase Energy from an “outperform” rating to a “market perform” rating in a research report on Friday, October 27th.

Insider Activity

In other news, Director Thurman J. Rodgers bought 32,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average price of $122.76 per share, for a total transaction of $4,001,976.00. Following the completion of the transaction, the director now owns 85,200 shares in the company, valued at $10,459,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Badrinarayanan Kothandaraman bought 1,118 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average price of $90.23 per share, for a total transaction of $100,877.14. Following the completion of the transaction, the chief executive officer now owns 1,272,015 shares in the company, valued at $114,773,913.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thurman J. Rodgers purchased 32,600 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was bought at an average price of $122.76 per share, for a total transaction of $4,001,976.00. Following the acquisition, the director now owns 85,200 shares in the company, valued at $10,459,152. The disclosure for this purchase can be found here. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Enphase Energy by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 13,980,361 shares of the semiconductor company’s stock valued at $2,820,957,000 after purchasing an additional 60,024 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Enphase Energy by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,999,370 shares of the semiconductor company’s stock valued at $501,061,000 after purchasing an additional 102,091 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of Enphase Energy by 2,542.2% in the 1st quarter. Mizuho Markets Americas LLC now owns 2,335,000 shares of the semiconductor company’s stock valued at $64,890,000 after purchasing an additional 2,246,626 shares during the last quarter. Northern Trust Corp raised its stake in shares of Enphase Energy by 7.1% in the 3rd quarter. Northern Trust Corp now owns 1,360,627 shares of the semiconductor company’s stock valued at $163,479,000 after acquiring an additional 90,438 shares during the period. Finally, Norges Bank purchased a new position in shares of Enphase Energy in the 4th quarter valued at $325,230,000. Institutional investors and hedge funds own 71.05% of the company’s stock.

Enphase Energy Trading Up 6.1 %

ENPH stock opened at $98.50 on Thursday. The company has a current ratio of 3.36, a quick ratio of 3.13 and a debt-to-equity ratio of 1.18. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $339.92. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.38 and a beta of 1.59. The business’s 50-day moving average is $105.71 and its 200 day moving average is $139.47.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.13. Enphase Energy had a return on equity of 63.06% and a net margin of 21.08%. The company had revenue of $551.08 million for the quarter, compared to analysts’ expectations of $562.27 million. On average, sell-side analysts anticipate that Enphase Energy will post 3.34 EPS for the current fiscal year.

Enphase Energy Company Profile

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 services.