Enphase Energy, Inc. (NASDAQ:ENPH) Receives $46.57 Average PT from Analysts

Enphase Energy, Inc. (NASDAQ:ENPH) has been given a consensus rating of “Hold” by the twenty-five ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $46.5708.

A number of equities analysts have recently weighed in on ENPH shares. Roth Mkm reaffirmed a “buy” rating on shares of Enphase Energy in a research note on Friday, May 22nd. Sanford C. Bernstein initiated coverage on shares of Enphase Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price objective on the stock. Evercore set a $37.00 price objective on shares of Enphase Energy in a research note on Monday, May 4th. Oppenheimer lowered their price objective on shares of Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company lowered their price objective on shares of Enphase Energy from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Shanker Trivedi acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were purchased at an average cost of $53.91 per share, with a total value of $53,910.00. Following the purchase, the director owned 1,000 shares in the company, valued at approximately $53,910. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at $111,080,160. The trade was a 0.30% increase in their position. The SEC filing for this purchase provides additional information. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently added to or reduced their stakes in ENPH. PFG Investments LLC raised its holdings in Enphase Energy by 2.2% in the fourth quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 260 shares during the period. Swiss Life Asset Management Ltd raised its holdings in Enphase Energy by 5.5% in the third quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 319 shares during the period. Glass Jacobson Investment Advisors llc raised its holdings in Enphase Energy by 77.8% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 350 shares during the period. GAMMA Investing LLC raised its holdings in Enphase Energy by 19.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 392 shares during the period. Finally, Maryland State Retirement & Pension System raised its holdings in Enphase Energy by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company’s stock valued at $845,000 after buying an additional 404 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $48.34 on Tuesday. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The stock has a market cap of $6.37 billion, a PE ratio of 47.86 and a beta of 1.59. The firm’s fifty day simple moving average is $49.27 and its 200-day simple moving average is $42.42.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $282.28 million. During the same period in the prior year, the company posted $0.68 EPS. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. Analysts expect that Enphase Energy will post 0.85 earnings per share for the current fiscal year.

About Enphase Energy

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.