Enphase Energy’s (ENPH) Buy Rating Reiterated at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Enphase Energy (NASDAQ:ENPH) in a report released on Monday morning, Benzinga reports. They currently have a $100.00 target price on the semiconductor company’s stock.

Several other research firms also recently issued reports on ENPH. The Goldman Sachs Group lowered their price objective on Enphase Energy from $180.00 to $158.00 and set a buy rating for the company in a research note on Monday, October 30th. Scotiabank cut Enphase Energy from a sector outperform rating to a sector perform rating and set a $140.00 target price on the stock. in a report on Thursday, October 19th. Truist Financial reiterated a hold rating and issued a $135.00 target price on shares of Enphase Energy in a report on Wednesday, October 4th. BMO Capital Markets cut Enphase Energy from an outperform rating to a market perform rating and dropped their price objective for the company from $175.00 to $148.00 in a research note on Monday, October 16th. Finally, Oppenheimer downgraded Enphase Energy from an outperform rating to a market perform rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy presently has a consensus rating of Hold and a consensus price target of $179.79.

Enphase Energy Trading Up 6.1 %

ENPH stock opened at $98.50 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.13 and a current ratio of 3.36. The company’s 50-day simple moving average is $105.71 and its 200 day simple moving average is $139.47. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $339.92. The company has a market capitalization of $13.45 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.38 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.13. The business had revenue of $551.08 million during the quarter, compared to analysts’ expectations of $562.27 million. Enphase Energy had a net margin of 21.08% and a return on equity of 63.06%. As a group, sell-side analysts anticipate that Enphase Energy will post 3.34 earnings per share for the current year.

Insider Activity

In other Enphase Energy news, Director Thurman J. Rodgers purchased 32,600 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average price of $122.76 per share, with a total value of $4,001,976.00. Following the completion of the purchase, the director now directly owns 85,200 shares of the company’s stock, valued at approximately $10,459,152. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 1,118 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average price of $90.23 per share, with a total value of $100,877.14. Following the completion of the purchase, the chief executive officer now directly owns 1,272,015 shares of the company’s stock, valued at approximately $114,773,913.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thurman J. Rodgers purchased 32,600 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $122.76 per share, with a total value of $4,001,976.00. Following the purchase, the director now directly owns 85,200 shares of the company’s stock, valued at $10,459,152. The disclosure for this purchase can be found here. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Panagora Asset Management Inc. lifted its position in 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 Enphase Energy during the first quarter valued at $249,000. Cibc World Market Inc. lifted its position in 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 position in 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 position in 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. Hedge funds and other institutional investors own 71.05% 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 services.