Enphase Energy, Inc. (NASDAQ:ENPH) Receives Consensus Rating of "Moderate Buy" from Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) has been assigned an average rating of "Moderate Buy" from the thirty analysts that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $128.96.

A number of brokerages have weighed in on ENPH. Barclays lowered their price target on Enphase Energy from $131.00 to $129.00 and set an "overweight" rating on the stock in a research report on Thursday, July 25th. Truist Financial cut their price target on shares of Enphase Energy from $145.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, April 23rd. Guggenheim upped their price objective on shares of Enphase Energy from $92.00 to $93.00 and gave the stock a "sell" rating in a research note on Wednesday, July 24th. Canaccord Genuity Group cut their target price on shares of Enphase Energy from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, July 24th. Finally, Piper Sandler increased their price target on Enphase Energy from $111.00 to $120.00 and gave the stock a "neutral" rating in a research report on Monday, July 22nd.

Insider Transactions at Enphase Energy

In related news, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were 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 in the company, valued at approximately $251,106,629.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Thurman J. Rodgers sold 319,526 shares of the business's stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total value of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares of the company's stock, valued at approximately $251,106,629.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the firm's stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now directly owns 107,943 shares in the company, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of Enphase Energy in the fourth quarter valued at approximately $206,000. Westfield Capital Management Co. LP acquired a new stake in shares of Enphase Energy in the 4th quarter valued at about $41,068,000. Northern Trust Corp lifted its holdings in shares of Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company's stock valued at $180,314,000 after purchasing an additional 3,940 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Enphase Energy by 48.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company's stock worth $10,658,000 after buying an additional 29,013 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Enphase Energy by 364.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company's stock worth $13,147,000 after buying an additional 85,284 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Stock Performance

Enphase Energy stock traded down $0.73 on Friday, hitting $116.39. The company's stock had a trading volume of 1,396,506 shares, compared to its average volume of 4,066,655. The company has a fifty day moving average price of $110.74 and a 200-day moving average price of $115.35. The firm has a market cap of $15.84 billion, a P/E ratio of 60.62, a price-to-earnings-growth ratio of 5.59 and a beta of 1.71. Enphase Energy has a one year low of $73.49 and a one year high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

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

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.