Enphase Energy (NASDAQ:ENPH) PT Raised to $149.00 at B. Riley

Enphase Energy (NASDAQ:ENPH) had its price objective raised by B. Riley from $121.00 to $149.00 in a report issued on Monday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Enphase Energy’s Q1 2024 earnings at $0.18 EPS, Q2 2024 earnings at $0.40 EPS, Q3 2024 earnings at $0.77 EPS, Q4 2024 earnings at $0.89 EPS, FY2024 earnings at $2.26 EPS and FY2025 earnings at $4.38 EPS.

ENPH has been the topic of a number of other research reports. Piper Sandler dropped their target price on Enphase Energy from $120.00 to $117.00 and set a neutral rating on the stock in a report on Friday, January 12th. BMO Capital Markets raised their target price on Enphase Energy from $106.00 to $110.00 and gave the company a market perform rating in a report on Wednesday, February 7th. Barclays raised their target price on Enphase Energy from $106.00 to $115.00 and gave the company an equal weight rating in a report on Thursday, February 8th. Wells Fargo & Company upgraded Enphase Energy from an equal weight rating to an overweight rating and raised their target price for the company from $98.00 to $141.00 in a report on Monday, January 8th. Finally, Royal Bank of Canada initiated coverage on Enphase Energy in a report on Wednesday, February 14th. They issued an outperform rating and a $140.00 target price on the stock. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $141.00.

Enphase Energy Stock Up 0.6 %

Shares of NASDAQ:ENPH opened at $107.83 on Monday. The business’s 50 day simple moving average is $118.79 and its two-hundred day simple moving average is $111.93. The firm has a market cap of $14.66 billion, a P/E ratio of 56.16, a PEG ratio of 3.24 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $192.22.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. As a group, research analysts forecast that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of Enphase Energy 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 sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,285 shares of company stock valued at $4,054,428. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its stake in Enphase Energy by 50.9% during the first quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 144 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Enphase Energy by 14.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,570 shares of the semiconductor company’s stock valued at $3,577,000 after acquiring an additional 3,700 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Enphase Energy by 24.9% in the 1st quarter. V Square Quantitative Management LLC now owns 2,008 shares of the semiconductor company’s stock valued at $243,000 after acquiring an additional 400 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Enphase Energy by 47.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,215 shares of the semiconductor company’s stock valued at $147,000 after acquiring an additional 390 shares during the last quarter. Finally, TriaGen Wealth Management LLC lifted its stake in shares of Enphase Energy by 4.0% in the 1st quarter. TriaGen Wealth Management LLC now owns 6,293 shares of the semiconductor company’s stock valued at $761,000 after acquiring an additional 241 shares during the last quarter. Institutional investors 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.