TD Cowen Raises Enphase Energy (NASDAQ:ENPH) Price Target to $145.00

Enphase Energy (NASDAQ:ENPH) had its target price upped by research analysts at TD Cowen from $140.00 to $145.00 in a report released on Wednesday, Briefing.com reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price suggests a potential upside of 27.78% from the stock’s current price.

Several other research firms have also commented on ENPH. DZ Bank initiated coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They issued a “hold” rating and a $116.00 price target on the stock. Royal Bank of Canada initiated coverage on shares of Enphase Energy in a research note on Wednesday, February 14th. They set an “outperform” rating and a $140.00 price objective on the stock. Oppenheimer raised shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price objective on the stock in a research note on Wednesday, February 7th. Citigroup downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $126.00 to $121.00 in a research note on Friday, April 5th. Finally, Truist Financial cut their price target on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $142.15.

Enphase Energy Trading Up 2.7 %

Shares of ENPH opened at $113.48 on Wednesday. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average is $119.28 and its two-hundred day moving average is $111.97. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $228.36. The firm has a market capitalization of $15.43 billion, a P/E ratio of 37.09, a PEG ratio of 3.16 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. On average, research analysts predict that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. In the last three months, insiders sold 34,285 shares of company stock valued at $4,054,428. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after acquiring an additional 192,854 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after acquiring an additional 4,078,723 shares in the last quarter. Northern Trust Corp grew its holdings in Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after acquiring an additional 3,940 shares in the last quarter. Norges Bank acquired a new position in Enphase Energy during the 4th quarter worth $149,425,000. Finally, Schroder Investment Management Group grew its holdings in Enphase Energy by 3.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock worth $135,080,000 after acquiring an additional 35,681 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Company Profile

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.