Enphase Energy (NASDAQ:ENPH) Upgraded by Sanford C. Bernstein to “Hold” Rating

Sanford C. Bernstein upgraded shares of Enphase Energy (NASDAQ:ENPH) to a hold rating in a report published on Tuesday,Zacks.com reports.

ENPH has been the subject of a number of other reports. Oppenheimer dropped their price target on Enphase Energy from $68.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Citigroup lowered their target price on Enphase Energy from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Roth Mkm reaffirmed a “buy” rating on shares of Enphase Energy in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Enphase Energy from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings lowered Enphase Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, June 5th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.70.

Enphase Energy Stock Down 4.9%

Shares of ENPH opened at $47.78 on Tuesday. Enphase Energy has a 52 week low of $25.77 and a 52 week high of $73.74. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 47.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.20 and a current ratio of 3.80. The stock has a fifty day moving average of $46.46 and a 200-day moving average of $41.33.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The company had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.28 million. During the same period in the prior year, the company earned $0.68 EPS. Enphase Energy’s revenue was down 20.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enphase Energy will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Enphase Energy

A number of large investors have recently bought and sold shares of the business. PFG Investments LLC grew its holdings in Enphase Energy by 2.2% during the 4th quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock worth $391,000 after acquiring an additional 260 shares during the period. Swiss Life Asset Management Ltd grew its holdings in Enphase Energy by 5.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock worth $217,000 after acquiring an additional 319 shares during the period. Glass Jacobson Investment Advisors llc grew its holdings in Enphase Energy by 77.8% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 350 shares during the period. GAMMA Investing LLC grew its holdings in Enphase Energy by 19.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 392 shares during the period. Finally, Maryland State Retirement & Pension System grew its holdings in Enphase Energy by 1.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company’s stock worth $845,000 after acquiring an additional 404 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.