Enphase Energy (NASDAQ:ENPH) Price Target Raised to $153.00

Enphase Energy (NASDAQ:ENPH) had its price target boosted by Craig Hallum from $147.00 to $153.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on ENPH. Barclays dropped their price objective on Enphase Energy from $134.00 to $131.00 and set an overweight rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. lifted their price objective on Enphase Energy from $124.00 to $130.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. DZ Bank started 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. Guggenheim boosted their target price on Enphase Energy from $92.00 to $93.00 and gave the stock a sell rating in a research note on Wednesday. Finally, Truist Financial lowered their target price on Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research note on Tuesday, April 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $129.70.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $119.34 on Wednesday. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $175.59. The company has a quick ratio of 3.78, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The stock’s fifty day moving average is $115.21 and its two-hundred day moving average is $115.31. The company has a market capitalization of $16.16 billion, a P/E ratio of 62.16, a P/E/G ratio of 5.40 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. During the same period in the previous year, the firm posted $1.16 earnings per share. The company’s quarterly revenue was down 57.3% compared to the same quarter last year. Equities analysts expect that Enphase Energy will post 1.31 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the sale, the director now directly owns 1,984,562 shares of the company’s stock, valued at approximately $251,106,629.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the sale, the director now directly owns 1,984,562 shares of the company’s stock, valued at approximately $251,106,629.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mandy Yang acquired 4,000 shares of Enphase Energy stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the purchase, the chief financial officer now owns 62,973 shares in the company, valued at $6,564,305.52. The disclosure for this purchase can be found here. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Bogart Wealth LLC acquired a new position in Enphase Energy during the 4th quarter worth approximately $26,000. Manchester Capital Management LLC increased its position in Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares during the period. CVA Family Office LLC acquired a new position in Enphase Energy during the 4th quarter worth approximately $31,000. Chilton Capital Management LLC increased its position in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new position in Enphase Energy during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 72.12% of the company’s stock.

About Enphase Energy

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.