Enphase Energy, Inc. (NASDAQ:ENPH) Receives Consensus Recommendation of “Hold” from Analysts

by · The Markets Daily

Shares of Enphase Energy, Inc. (NASDAQ:ENPH – Get Free Report) have received a consensus rating of “Hold” from the twenty-three ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $45.7941.

Several equities research analysts recently weighed in on the company. Mizuho decreased their price target on Enphase Energy from $54.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Evercore restated a “positive” rating and set a $41.00 price objective on shares of Enphase Energy in a research report on Monday, August 17th. Jefferies Financial Group raised their target price on shares of Enphase Energy from $41.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Wells Fargo & Company lowered their target price on shares of Enphase Energy from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, July 29th. Finally, UBS Group set a $56.00 price objective on Enphase Energy in a report on Wednesday, July 29th.

Check Out Our Latest Analysis on ENPH

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 1,500 shares of Enphase Energy stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the sale, the director directly owned 10,422 shares in the company, valued at $420,631.92. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its holdings in shares of Enphase Energy by 4,766.2% in the 2nd quarter. California State Teachers Retirement System now owns 7,340,207 shares of the semiconductor company’s stock valued at $361,432,000 after purchasing an additional 7,189,367 shares in the last quarter. Norges Bank purchased a new stake in Enphase Energy during the fourth quarter worth about $118,190,000. Invesco Ltd. boosted its holdings in Enphase Energy by 36.2% during the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock worth $101,244,000 after buying an additional 839,468 shares in the last quarter. Geode Capital Management LLC grew its position in Enphase Energy by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock worth $80,478,000 after buying an additional 11,220 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in Enphase Energy by 154.9% in the second quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock valued at $103,953,000 after buying an additional 1,283,052 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 ENPH opened at $36.35 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.95 and a current ratio of 3.45. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The firm has a 50-day simple moving average of $39.36 and a 200-day simple moving average of $43.14. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 36.35 and a beta of 1.65.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The company had revenue of $291.85 million during the quarter, compared to analyst estimates of $289.76 million. During the same quarter last year, the firm earned $0.69 EPS. The business’s revenue was down 19.6% on a year-over-year basis. On average, equities research analysts anticipate that Enphase Energy will post 0.76 earnings per share for the current year.

About Enphase Energy

(Get Free Report)

Enphase Energy, Inc (NASDAQ:ENPH) is a clean energy technology company that designs and manufactures systems for generating, storing and managing electricity. Its products are primarily used in residential and commercial solar installations.

The company is best known for its semiconductor-based solar microinverters, which convert the direct current produced by individual solar panels into alternating current for use in buildings or delivery to the electric grid. Enphase also offers home battery storage systems, electric vehicle chargers, energy management software and related monitoring services designed to help customers optimize solar production, energy consumption and backup power.

Founded in 2006, Enphase is headquartered in Fremont, California.

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