Enphase Energy, Inc. (NASDAQ:ENPH) Receives $90.42 Consensus Price Target from Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been assigned an average recommendation of “Hold” from the thirty-three ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $90.42.

ENPH has been the topic of several analyst reports. Canaccord Genuity Group upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and increased their price target for the stock from $76.00 to $82.00 in a research note on Wednesday, February 5th. Guggenheim upgraded shares of Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price on the stock in a research note on Friday, January 31st. OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Northland Securities lowered their target price on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Finally, BMO Capital Markets lowered their target price on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Swedbank AB boosted its position in Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Enphase Energy by 19.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,111 shares of the semiconductor company’s stock valued at $804,000 after buying an additional 1,156 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its position in Enphase Energy by 19.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 125 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Enphase Energy by 19.1% in the third quarter. Farther Finance Advisors LLC now owns 1,085 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 174 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Enphase Energy in the third quarter worth about $1,273,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

Shares of ENPH opened at $61.63 on Wednesday. The company’s fifty day moving average is $64.45 and its 200-day moving average is $81.20. Enphase Energy has a 12 month low of $51.63 and a 12 month high of $141.63. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 83.28 and a beta of 2.12. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Equities analysts expect that Enphase Energy will post 2.08 EPS for the current fiscal year.

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.