Enphase Energy, Inc. (NASDAQ:ENPH) Receives $42.70 Consensus Target Price from Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPHGet Free Report) have received a consensus recommendation of “Hold” from the thirty-two brokerages that are covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $42.7036.

A number of analysts recently issued reports on ENPH shares. Roth Mkm restated a “buy” rating and set a $55.00 price objective (up from $45.00) on shares of Enphase Energy in a report on Wednesday, February 4th. Northland Securities increased their target price on shares of Enphase Energy from $52.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 29th. Wells Fargo & Company raised their price target on shares of Enphase Energy from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada upgraded Enphase Energy from a “sector perform” rating to an “outperform” rating and set a $54.00 price objective on the stock in a research note on Wednesday, February 4th. Finally, Raymond James Financial started coverage on Enphase Energy in a research report on Monday, January 12th. They issued a “market perform” rating for the company.

Get Our Latest Stock Report on ENPH

Insider Transactions at Enphase Energy

In related news, EVP Mandy Yang sold 6,000 shares of Enphase Energy stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $33.01, for a total value of $198,060.00. Following the completion of the sale, the executive vice president owned 68,987 shares of the company’s stock, valued at approximately $2,277,260.87. This trade represents a 8.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thurman J. Rodgers sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $29.13, for a total transaction of $4,369,500.00. Following the sale, the director directly owned 1,733,596 shares in the company, valued at approximately $50,499,651.48. This trade represents a 7.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 157,100 shares of company stock worth $4,624,815. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Enphase Energy during the fourth quarter worth $118,190,000. Invesco Ltd. raised its stake in shares of Enphase Energy by 28.1% during the 2nd quarter. Invesco Ltd. now owns 6,743,674 shares of the semiconductor company’s stock valued at $267,387,000 after purchasing an additional 1,479,153 shares during the period. Federated Hermes Inc. raised its stake in shares of Enphase Energy by 264.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,477,751 shares of the semiconductor company’s stock valued at $58,593,000 after purchasing an additional 1,072,602 shares during the period. Public Sector Pension Investment Board lifted its holdings in Enphase Energy by 2,322.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 876,983 shares of the semiconductor company’s stock worth $34,772,000 after purchasing an additional 840,787 shares in the last quarter. Finally, Sora Investors LLC bought a new position in Enphase Energy in the 4th quarter worth about $25,998,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $49.74 on Wednesday. The business’s fifty day simple moving average is $38.83 and its 200 day simple moving average is $35.79. The firm has a market capitalization of $6.52 billion, a P/E ratio of 38.56 and a beta of 1.37. Enphase Energy has a 12 month low of $25.77 and a 12 month high of $67.20. The company has a current ratio of 2.07, a quick ratio of 1.84 and a debt-to-equity ratio of 0.53.

Enphase Energy (NASDAQ:ENPHGet Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.19. The firm had revenue of $343.32 million during the quarter, compared to the consensus estimate of $340.45 million. Enphase Energy had a return on equity of 20.31% and a net margin of 11.69%.The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, analysts anticipate that Enphase Energy will post 2.08 EPS for the current year.

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About Enphase Energy

(Get Free Report)

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.

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