Oppenheimer Boosts Enphase Energy (NASDAQ:ENPH) Price Target to $134.00

Enphase Energy (NASDAQ:ENPH) had its target price upped by equities researchers at Oppenheimer from $133.00 to $134.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price points to a potential upside of 24.27% from the stock’s current price.

A number of other research firms have also recently commented on ENPH. B. Riley upped their target price on Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley upped their target price on Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Royal Bank of Canada began coverage on Enphase Energy in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 price objective on the stock. KeyCorp reissued a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Finally, Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price objective on the stock. in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $141.00.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $107.83 on Wednesday. The stock has a 50-day simple moving average of $118.79 and a two-hundred day simple moving average of $111.93. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $192.22. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The firm has a market capitalization of $14.66 billion, a PE ratio of 56.16, a P/E/G ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. The business had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Analysts forecast that Enphase Energy will post 2.01 EPS for the current year.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was 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 owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was 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 owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently made changes to their positions in ENPH. Bogart Wealth LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust increased its holdings in shares of Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 176 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 304 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Enphase Energy by 194.6% in the fourth quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 72.12% 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.