Mizuho Initiates Coverage on Enphase Energy (NASDAQ:ENPH)

Analysts at Mizuho began coverage on shares of Enphase Energy (NASDAQ:ENPH) in a research note issued to investors on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $131.00 price target on the semiconductor company’s stock. Mizuho’s price target indicates a potential upside of 32.99% from the stock’s previous close.

ENPH has been the subject of several other research reports. Susquehanna decreased their price objective on Enphase Energy from $200.00 to $175.00 and set a “positive” rating for the company in a report on Monday, October 2nd. HSBC downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Friday, October 27th. Citigroup dropped their price target on shares of Enphase Energy from $170.00 to $167.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. JPMorgan Chase & Co. reduced their price objective on shares of Enphase Energy from $169.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday, October 19th. Finally, Piper Sandler restated a “neutral” rating and set a $75.00 target price (down previously from $150.00) on shares of Enphase Energy in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $178.17.

Enphase Energy Stock Up 6.1 %

Enphase Energy stock opened at $98.50 on Tuesday. The firm has a 50 day moving average price of $105.71 and a 200-day moving average price of $139.47. The company has a quick ratio of 3.13, a current ratio of 3.36 and a debt-to-equity ratio of 1.18. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $339.92. The company has a market capitalization of $13.45 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.38 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, beating 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 business had revenue of $551.08 million during the quarter, compared to analyst estimates of $562.27 million. As a group, equities analysts predict that Enphase Energy will post 3.34 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman acquired 1,118 shares of Enphase Energy stock in a transaction dated Thursday, November 16th. The shares were purchased at an average cost of $90.23 per share, for a total transaction of $100,877.14. Following the transaction, the chief executive officer now owns 1,272,015 shares of the company’s stock, valued at $114,773,913.45. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 1,118 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $90.23 per share, with a total value of $100,877.14. Following the purchase, the chief executive officer now owns 1,272,015 shares of the company’s stock, valued at $114,773,913.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thurman J. Rodgers bought 32,600 shares of Enphase Energy stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average cost 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 approximately $10,459,152. The disclosure for this purchase can be found here. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Jacobs Levy Equity Management Inc. lifted its position in Enphase Energy by 101.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 51,607 shares of the semiconductor company’s stock valued at $6,201,000 after purchasing an additional 26,045 shares during the last quarter. Resources Management Corp CT ADV increased its stake in shares of Enphase Energy by 66.6% in the third quarter. Resources Management Corp CT ADV now owns 3,801 shares of the semiconductor company’s stock worth $457,000 after buying an additional 1,519 shares during the period. Twin Lakes Capital Management LLC bought a new stake in Enphase Energy during the 3rd quarter valued at $48,000. Creative Planning boosted its position in Enphase Energy by 28.7% during the 3rd quarter. Creative Planning now owns 16,659 shares of the semiconductor company’s stock valued at $2,002,000 after buying an additional 3,715 shares during the period. Finally, Spouting Rock Asset Management LLC bought a new stake in Enphase Energy in the 3rd quarter worth $478,000. Institutional investors own 71.05% of the company’s stock.

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 services.