Enphase Energy (NASDAQ:ENPH) PT Raised to $134.00

Enphase Energy (NASDAQ:ENPH) had its price objective raised by Oppenheimer from $133.00 to $134.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

ENPH has been the subject of a number of other research reports. StockNews.com downgraded Enphase Energy from a hold rating to a sell rating in a report on Wednesday, February 7th. DZ Bank initiated coverage on Enphase Energy in a research note on Wednesday, April 17th. They set a hold rating and a $116.00 target price for the company. Morgan Stanley lifted their price target on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Truist Financial reduced their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating on the stock in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company raised shares of Enphase Energy from an equal weight rating to an overweight rating and boosted their target price for the stock from $98.00 to $141.00 in a research report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $137.41.

Enphase Energy Stock Up 3.8 %

Shares of NASDAQ:ENPH opened at $111.93 on Wednesday. The company has a 50 day moving average of $117.82 and a two-hundred day moving average of $111.85. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $192.22. The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 58.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. As a group, analysts forecast that Enphase Energy will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares in the company, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. Insiders have sold a total of 54,285 shares of company stock valued at $6,148,228 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after purchasing an additional 192,854 shares during the period. Baillie Gifford & Co. increased its stake in Enphase Energy by 387,343.1% in the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares in the last quarter. Northern Trust Corp raised its holdings in Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after buying an additional 3,940 shares during the period. Norges Bank purchased a new stake in Enphase Energy during the fourth quarter valued at about $149,425,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Enphase Energy by 3.3% in the third quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock worth $135,080,000 after buying an additional 35,681 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.