Enphase Energy, Inc. (NASDAQ:ENPH) Receives $90.36 Average PT from Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH) has been given an average recommendation of “Hold” by the thirty-three ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $90.36.

Several research analysts recently weighed in on ENPH shares. Oppenheimer boosted their target price on Enphase Energy from $101.00 to $103.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Glj Research restated a “sell” rating and set a $50.69 price target on shares of Enphase Energy in a research note on Tuesday, February 4th. TD Cowen decreased their price objective on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Piper Sandler dropped their target price on shares of Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, Barclays decreased their price target on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, February 6th.

Enphase Energy Stock Performance

ENPH stock opened at $62.39 on Friday. Enphase Energy has a one year low of $51.63 and a one year high of $141.63. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 84.31 and a beta of 2.12. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a 50-day simple moving average of $62.20 and a two-hundred day simple moving average of $74.79.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities analysts forecast that Enphase Energy will post 2.08 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This trade represents a 5.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. lifted its stake in Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after buying an additional 2,028,691 shares in the last quarter. Invesco Ltd. lifted its position in shares of Enphase Energy by 43.4% in the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock valued at $313,034,000 after acquiring an additional 1,378,978 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after acquiring an additional 1,258,778 shares during the last quarter. Worldquant Millennium Advisors LLC increased its position in shares of Enphase Energy by 531.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after purchasing an additional 678,163 shares in the last quarter. Finally, Norges Bank acquired a new position in Enphase Energy in the 4th quarter valued at $46,339,000. 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.