Enphase Energy, Inc. (NASDAQ:ENPH) Receives $45.79 Consensus PT from Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given an average recommendation of “Hold” by the twenty-three brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $45.7941.

A number of equities research analysts have recently weighed in on ENPH shares. Roth Capital reiterated a “buy” rating on shares of Enphase Energy in a research report on Friday, May 22nd. The Goldman Sachs Group increased their price target on Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. UBS Group set a $56.00 price objective on Enphase Energy in a research note on Wednesday, July 29th. Sanford C. Bernstein began coverage on Enphase Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price objective for the company. Finally, TD Cowen cut their target price on Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 20th.

Insiders Place Their Bets

In related news, Director Shanker Trivedi purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average price of $53.91 per share, with a total value of $53,910.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at $53,910. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Mora sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $36.76, for a total value of $73,520.00. Following the completion of the transaction, the director directly owned 11,922 shares of the company’s stock, valued at approximately $438,252.72. This trade represents a 14.37% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GFG Capital LLC acquired a new position in Enphase Energy during the second quarter valued at approximately $208,000. Nykredit A S bought a new stake in Enphase Energy during the second quarter worth $260,000. Allianz Asset Management GmbH acquired a new stake in shares of Enphase Energy in the 2nd quarter valued at $4,451,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Enphase Energy in the 2nd quarter valued at $1,059,000. Finally, California State Teachers Retirement System increased its stake in shares of Enphase Energy by 4,766.2% in the 2nd quarter. California State Teachers Retirement System now owns 7,340,207 shares of the semiconductor company’s stock valued at $361,432,000 after purchasing an additional 7,189,367 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $38.83 on Friday. The stock has a 50 day simple moving average of $39.82 and a 200 day simple moving average of $43.31. The stock has a market cap of $5.13 billion, a P/E ratio of 38.83 and a beta of 1.65. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $73.74. The company has a current ratio of 3.45, a quick ratio of 2.95 and a debt-to-equity ratio of 0.48.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The firm had revenue of $291.85 million during the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The business’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 earnings per share. Research analysts anticipate that Enphase Energy will post 0.76 earnings per share for the current year.

Enphase Energy Company Profile

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.