Brokerages Set Enphase Energy, Inc. (NASDAQ:ENPH) PT at $40.65

Enphase Energy, Inc. (NASDAQ:ENPH) has received an average rating of “Hold” from the twenty-six brokerages that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $40.6542.

Several research firms have commented on ENPH. Evercore set a $37.00 target price on Enphase Energy in a research note on Monday. Barclays cut their target price on Enphase Energy from $31.00 to $30.00 and set an “underweight” rating on the stock in a research note on Monday. TD Cowen lowered their price target on Enphase Energy from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. Jefferies Financial Group lowered their price target on Enphase Energy from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Finally, Wall Street Zen raised Enphase Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th.

Enphase Energy Trading Up 2.8%

NASDAQ:ENPH opened at $36.45 on Monday. The stock has a market capitalization of $4.80 billion, a PE ratio of 36.09 and a beta of 1.26. The business’s 50-day simple moving average is $38.12 and its 200-day simple moving average is $36.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $54.43.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $282.28 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The business’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. Sell-side analysts expect that Enphase Energy will post 0.84 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 137,250 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the transaction, the director owned 1,597,641 shares of the company’s stock, valued at $69,673,124.01. The trade was a 7.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Mora sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $52.05, for a total value of $57,255.00. Following the transaction, the director directly owned 9,370 shares in the company, valued at $487,708.50. This trade represents a 10.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Enphase Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after acquiring an additional 246,876 shares during the last quarter. Norges Bank acquired a new position in shares of Enphase Energy during the 4th quarter worth approximately $118,190,000. Invesco Ltd. increased its holdings in shares of Enphase Energy by 36.2% during the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock worth $101,244,000 after acquiring an additional 839,468 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Enphase Energy by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock worth $80,478,000 after acquiring an additional 11,220 shares during the last quarter. Finally, Coatue Management LLC increased its holdings in shares of Enphase Energy by 95.3% during the 3rd quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock worth $58,319,000 after acquiring an additional 803,945 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.