Enphase Energy, Inc. (NASDAQ:ENPH) Receives $130.45 Average Target Price from Analysts

Enphase Energy, Inc. (NASDAQ:ENPH) has earned a consensus rating of “Hold” from the thirty-two research firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $130.45.

ENPH has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. HSBC upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a research report on Monday, June 10th. Canaccord Genuity Group upped their price objective on Enphase Energy from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. B. Riley upped their price objective on Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, Barclays upgraded Enphase Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $115.00 to $134.00 in a research report on Friday, April 26th.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the transaction, the executive vice president now directly owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the transaction, the director now directly owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 349,526 shares of company stock worth $43,721,225. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Kestra Advisory Services LLC boosted its holdings in Enphase Energy by 11.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 4,713 shares of the semiconductor company’s stock valued at $566,000 after acquiring an additional 486 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in Enphase Energy during the 3rd quarter valued at about $373,000. LPL Financial LLC grew its position in shares of Enphase Energy by 21.3% during the third quarter. LPL Financial LLC now owns 91,989 shares of the semiconductor company’s stock worth $11,052,000 after buying an additional 16,163 shares in the last quarter. Stifel Financial Corp grew its position in shares of Enphase Energy by 14.2% during the third quarter. Stifel Financial Corp now owns 80,893 shares of the semiconductor company’s stock worth $9,719,000 after buying an additional 10,056 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Enphase Energy by 494.8% during the third quarter. Federated Hermes Inc. now owns 4,848 shares of the semiconductor company’s stock worth $582,000 after buying an additional 4,033 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $99.17 on Friday. The business’s 50 day moving average price is $116.10 and its 200 day moving average price is $117.47. The firm has a market cap of $13.49 billion, a P/E ratio of 51.65, a P/E/G ratio of 3.94 and a beta of 1.71. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $192.22. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The firm had revenue of $263.34 million during the quarter, compared to analysts’ expectations of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. On average, sell-side analysts expect that Enphase Energy will post 1.43 earnings per share for the current 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.