Enphase Energy (NASDAQ:ENPH) Receives “Buy” Rating from Roth Mkm

Enphase Energy (NASDAQ:ENPH)‘s stock had its “buy” rating reiterated by equities research analysts at Roth Mkm in a note issued to investors on Wednesday, Benzinga reports. They presently have a $140.00 target price on the semiconductor company’s stock. Roth Mkm’s price target points to a potential upside of 17.98% from the company’s previous close.

Several other research firms have also recently commented on ENPH. JPMorgan Chase & Co. boosted their target price on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Piper Sandler boosted their price objective on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday. Royal Bank of Canada lowered their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Citigroup cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $126.00 to $121.00 in a research note on Friday, April 5th. Finally, HSBC raised shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a report on Monday, June 10th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average price target of $129.93.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded up $15.02 on Wednesday, reaching $118.66. The stock had a trading volume of 7,998,249 shares, compared to its average volume of 4,146,982. The business’s 50 day moving average is $115.17 and its two-hundred day moving average is $115.28. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $182.26. The company has a market cap of $16.14 billion, a P/E ratio of 61.32, a price-to-earnings-growth ratio of 4.84 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.17). The firm had revenue of $263.34 million during the quarter, compared to the consensus estimate of $280.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. As a group, research analysts anticipate that Enphase Energy will post 1.31 EPS for the current year.

Insider Activity

In other Enphase Energy 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 value of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares in the company, valued at $251,106,629.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total value of $40,429,624.78. Following the sale, the director now owns 1,984,562 shares in the company, valued at $251,106,629.86. The disclosure for this sale can be found here. Insiders sold a total of 344,526 shares of company stock worth $43,139,775 in the last quarter. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bogart Wealth LLC purchased a new position in Enphase Energy in the 4th quarter worth about $26,000. Manchester Capital Management LLC raised its holdings in shares of Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the last quarter. CVA Family Office LLC purchased a new position in shares of Enphase Energy during the fourth quarter valued at approximately $31,000. Chilton Capital Management LLC lifted its position in Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 246 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new stake in Enphase Energy in the first quarter worth approximately $35,000. 72.12% of the stock is owned by institutional investors.

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.