Enphase Energy (NASDAQ:ENPH) Price Target Raised to $149.00

Enphase Energy (NASDAQ:ENPH) had its price objective lifted by B. Riley from $121.00 to $149.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other brokerages also recently commented on ENPH. Susquehanna reissued a positive rating and set a $140.00 target price on shares of Enphase Energy in a research note on Friday, April 5th. Truist Financial upgraded shares of Enphase Energy from a hold rating to a buy rating and boosted their price target for the company from $85.00 to $145.00 in a research note on Tuesday, January 23rd. Roth Mkm reissued a buy rating and issued a $140.00 price target on shares of Enphase Energy in a research report on Thursday, April 18th. Morgan Stanley lifted their target price on Enphase Energy from $97.00 to $106.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Finally, BMO Capital Markets upped their price objective on Enphase Energy from $106.00 to $110.00 and gave the company a market perform rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $141.00.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $107.17 on Monday. The company has a fifty day moving average price of $119.28 and a two-hundred day moving average price of $111.97. The stock has a market cap of $14.57 billion, a P/E ratio of 35.02, a P/E/G ratio of 3.16 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. Enphase Energy has a one year low of $73.49 and a one year high of $228.36.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. As a group, equities analysts predict that Enphase Energy will post 2.01 EPS for the current year.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 24,285 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the transaction, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock worth $4,054,428 over the last quarter. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legato Capital Management LLC purchased a new stake in Enphase Energy during the fourth quarter worth about $1,542,000. Assenagon Asset Management S.A. lifted its stake in Enphase Energy by 348.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after buying an additional 173,628 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Enphase Energy during the fourth quarter worth approximately $566,000. Glenmede Trust Co. NA raised its stake in shares of Enphase Energy by 92.7% during the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 1,521 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Enphase Energy by 8.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock worth $17,013,000 after purchasing an additional 10,729 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.