Enphase Energy (NASDAQ:ENPH) Price Target Raised to $62.00

by · The Markets Daily

Enphase Energy (NASDAQ:ENPH – Free Report) had its price objective raised by Northland Securities from $52.00 to $62.00 in a research report report published on Monday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

A number of other equities analysts have also commented on ENPH. Glj Research raised their price objective on shares of Enphase Energy from $19.80 to $23.49 and gave the stock a “sell” rating in a research note on Tuesday, September 23rd. Royal Bank Of Canada reduced their target price on Enphase Energy from $33.00 to $31.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. Mizuho downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $50.00 to $37.00 in a report on Thursday, October 23rd. BMO Capital Markets reissued an “underperform” rating and issued a $31.00 price objective on shares of Enphase Energy in a research note on Wednesday, October 29th. Finally, Wall Street Zen lowered Enphase Energy from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $40.57.

View Our Latest Research Report on ENPH

Enphase Energy Trading Down 0.4%

Shares of ENPH opened at $32.05 on Monday. The business’s 50-day moving average price is $30.96 and its 200 day moving average price is $35.07. The stock has a market capitalization of $4.19 billion, a P/E ratio of 22.10 and a beta of 1.43. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $76.90. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 0.57.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The semiconductor company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.30. Enphase Energy had a net margin of 12.93% and a return on equity of 25.67%. The company had revenue of $410.43 million during the quarter, compared to analyst estimates of $364.64 million. During the same period in the prior year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that Enphase Energy will post 2.08 earnings per share for the current year.

Insider Activity at Enphase Energy

In other Enphase Energy news, EVP Mandy Yang sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $33.01, for a total value of $198,060.00. Following the completion of the sale, the executive vice president directly owned 68,987 shares of the company’s stock, valued at $2,277,260.87. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $30.69 per share, for a total transaction of $153,450.00. Following the purchase, the chief executive officer owned 1,635,632 shares in the company, valued at $50,197,546.08. The trade was a 0.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently bought and sold shares of ENPH. ProShare Advisors LLC grew its holdings in shares of Enphase Energy by 29.4% during the 2nd quarter. ProShare Advisors LLC now owns 55,319 shares of the semiconductor company’s stock worth $2,193,000 after purchasing an additional 12,577 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Enphase Energy by 74.8% in the second quarter. Quantbot Technologies LP now owns 91,084 shares of the semiconductor company’s stock valued at $3,611,000 after purchasing an additional 38,982 shares in the last quarter. Natixis raised its stake in shares of Enphase Energy by 46.7% in the second quarter. Natixis now owns 215,023 shares of the semiconductor company’s stock valued at $8,526,000 after purchasing an additional 68,472 shares in the last quarter. Raymond James Financial Inc. lifted its position in Enphase Energy by 12.3% in the first quarter. Raymond James Financial Inc. now owns 137,044 shares of the semiconductor company’s stock worth $8,504,000 after purchasing an additional 15,060 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in Enphase Energy in the 1st quarter valued at $1,689,000. 72.12% of the stock is currently owned by institutional investors.

About Enphase Energy

(Get Free Report)

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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