Enphase Energy (NASDAQ:ENPH) had its price objective raised by Credit Suisse Group from $60.00 to $89.00 in a research report report published on Monday, Anlyst Ratings reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.
ENPH has been the subject of several other reports. Craig Hallum increased their price objective on Enphase Energy from $54.00 to $85.00 and gave the stock a buy rating in a research note on Wednesday, August 5th. Barclays increased their price objective on Enphase Energy from $80.00 to $90.00 in a research note on Wednesday, August 5th. JPMorgan Chase & Co. upped their target price on Enphase Energy from $80.00 to $92.00 and gave the stock an overweight rating in a research report on Wednesday, September 30th. They noted that the move was a valuation call. Roth Capital upped their target price on Enphase Energy from $70.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday, August 5th. Finally, Raymond James reaffirmed a hold rating on shares of Enphase Energy in a research report on Friday, August 14th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Enphase Energy currently has an average rating of Buy and a consensus price target of $80.29.
Shares of NASDAQ ENPH opened at $103.67 on Monday. Enphase Energy has a 12 month low of $17.18 and a 12 month high of $118.94. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 84.28, a P/E/G ratio of 4.20 and a beta of 0.95. The company has a quick ratio of 3.25, a current ratio of 3.39 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $87.30 and a 200-day simple moving average of $63.69.
Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, August 4th. The semiconductor company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $125.54 million during the quarter, compared to the consensus estimate of $123.24 million. Enphase Energy had a return on equity of 34.22% and a net margin of 23.49%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS. As a group, sell-side analysts expect that Enphase Energy will post 0.95 EPS for the current fiscal year.
In other Enphase Energy news, COO Jeff Mcneil sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $86.50, for a total value of $648,750.00. Following the sale, the chief operating officer now owns 256,103 shares of the company’s stock, valued at approximately $22,152,909.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 22,606 shares of company stock worth $1,692,784 in the last ninety days. Insiders own 7.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in ENPH. Wellington Management Group LLP bought a new stake in shares of Enphase Energy in the 1st quarter worth approximately $544,000. Schroder Investment Management Group bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $129,000. Clearbridge Investments LLC bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $2,316,000. The Manufacturers Life Insurance Company lifted its position in shares of Enphase Energy by 17.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 79,437 shares of the semiconductor company’s stock worth $2,565,000 after buying an additional 11,870 shares during the period. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $414,000. Institutional investors own 68.15% of the company’s stock.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
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