Enphase Energy (NASDAQ:ENPH) PT Raised to $100.00

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price target upped by Morgan Stanley from $98.00 to $100.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an "equal weight" rating on the semiconductor company's stock. Morgan Stanley's price target would indicate a potential downside of 16.18% from the stock's current price.

A number of other brokerages also recently commented on ENPH. Glj Research began coverage on Enphase Energy in a research report on Tuesday, June 25th. They set a "sell" rating and a $45.82 price target for the company. Guggenheim increased their price target on Enphase Energy from $92.00 to $93.00 and gave the company a "sell" rating in a research report on Wednesday, July 24th. BNP Paribas raised Enphase Energy from a "neutral" rating to an "outperform" rating and increased their price target for the company from $120.00 to $144.00 in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on Enphase Energy from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group downgraded Enphase Energy from a "buy" rating to a "hold" rating and decreased their target price for the stock from $135.00 to $111.00 in a research report on Wednesday, April 24th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $128.76.

Enphase Energy Trading Up 2.0 %

Shares of ENPH stock traded up $2.33 on Wednesday, hitting $119.31. The company had a trading volume of 1,805,008 shares, compared to its average volume of 4,021,811. The firm has a market cap of $16.23 billion, a P/E ratio of 61.81, a P/E/G ratio of 5.59 and a beta of 1.71. The stock's 50-day moving average is $110.21 and its two-hundred day moving average is $115.70. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm's revenue for the quarter was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 EPS. On average, equities research analysts anticipate that Enphase Energy will post 1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thurman J. Rodgers sold 319,526 shares of the business'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 value of $40,429,624.78. Following the sale, the director now directly owns 1,984,562 shares of the company's stock, valued at approximately $251,106,629.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Thurman J. Rodgers sold 319,526 shares of the business'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 value of $40,429,624.78. Following the sale, the director now directly owns 1,984,562 shares of the company's stock, valued at approximately $251,106,629.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now directly owns 107,943 shares in the company, valued at $13,306,133.61. The disclosure for this sale can be found here. Company insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently modified their holdings of ENPH. Swedbank AB purchased a new stake in Enphase Energy in the 1st quarter worth $424,130,000. Baillie Gifford & Co. increased its stake in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company's stock worth $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Norges Bank purchased a new stake in Enphase Energy in the 4th quarter worth $149,425,000. Electron Capital Partners LLC increased its stake in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company's stock worth $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Finally, Anomaly Capital Management LP purchased a new position in shares of Enphase Energy during the second quarter valued at about $51,582,000. 72.12% of the stock is owned by institutional investors.

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.