Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman J. Rodgers Purchases 32,600 Shares of Stock

Enphase Energy, Inc. (NASDAQ:ENPH) Director Thurman J. Rodgers purchased 32,600 shares of Enphase Energy stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average cost of $122.76 per share, with a total value of $4,001,976.00. Following the completion of the transaction, the director now owns 85,200 shares of the company’s stock, valued at $10,459,152. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Enphase Energy Stock Down 2.6 %

ENPH stock opened at $117.16 on Tuesday. The company’s 50 day simple moving average is $143.48 and its 200-day simple moving average is $169.96. The firm has a market capitalization of $15.97 billion, a PE ratio of 29.51, a P/E/G ratio of 1.40 and a beta of 1.52. Enphase Energy, Inc. has a 12 month low of $116.86 and a 12 month high of $339.92. The company has a debt-to-equity ratio of 1.23, a current ratio of 3.44 and a quick ratio of 3.22.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.95 by $0.21. The business had revenue of $711.12 million for the quarter, compared to analyst estimates of $726.94 million. Enphase Energy had a net margin of 20.48% and a return on equity of 71.20%. Equities analysts expect that Enphase Energy, Inc. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ENPH has been the subject of a number of research reports. Truist Financial cut shares of Enphase Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $210.00 to $135.00 in a report on Tuesday, September 12th. TheStreet cut shares of Enphase Energy from a “b-” rating to a “c+” rating in a report on Wednesday, August 16th. KeyCorp reduced their target price on shares of Enphase Energy from $267.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, August 17th. Bank of America reduced their target price on shares of Enphase Energy from $169.00 to $168.00 in a report on Wednesday, July 12th. Finally, Piper Sandler reduced their target price on shares of Enphase Energy from $210.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.17.

Institutional Trading of Enphase Energy

Several large investors have recently modified their holdings of the business. Panagora Asset Management Inc. lifted its stake in shares of Enphase Energy by 42.5% during the first quarter. Panagora Asset Management Inc. now owns 4,030 shares of the semiconductor company’s stock valued at $813,000 after buying an additional 1,201 shares during the period. Raymond James Trust N.A. purchased a new position in shares of Enphase Energy during the first quarter valued at approximately $249,000. Cibc World Market Inc. lifted its stake in shares of Enphase Energy by 219.1% during the first quarter. Cibc World Market Inc. now owns 5,320 shares of the semiconductor company’s stock valued at $1,073,000 after buying an additional 3,653 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Enphase Energy by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 398,666 shares of the semiconductor company’s stock valued at $80,436,000 after buying an additional 6,401 shares during the period. Finally, Blair William & Co. IL lifted its stake in shares of Enphase Energy by 8.7% during the first quarter. Blair William & Co. IL now owns 2,263 shares of the semiconductor company’s stock valued at $457,000 after buying an additional 182 shares during the period. 71.05% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Company Profile

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 services.