Analysts Set Enphase Energy, Inc. (NASDAQ:ENPH) Price Target at $47.11

Enphase Energy, Inc. (NASDAQ:ENPH) has earned a consensus recommendation of “Hold” from the twenty-four analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $46.90.

ENPH has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on Enphase Energy in a report on Tuesday, June 16th. They issued a “market perform” rating and a $56.00 price target for the company. Barclays raised Enphase Energy from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $30.00 to $51.00 in a research note on Thursday, June 18th. Wall Street Zen upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. Morgan Stanley set a $27.00 price target on shares of Enphase Energy in a research note on Friday, May 8th. Finally, Glj Research reiterated a “sell” rating and issued a $21.70 price target on shares of Enphase Energy in a report on Thursday, June 11th.

Enphase Energy Price Performance

Shares of ENPH stock opened at $39.58 on Friday. Enphase Energy has a 12-month low of $25.77 and a 12-month high of $73.74. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 39.19 and a beta of 1.62. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $51.95 and a 200-day moving average of $43.71.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. The business had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.27 million. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The firm’s revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, equities research analysts forecast that Enphase Energy will post 0.82 earnings per share for the current year.

Insider Activity

In other news, Director Shanker Trivedi purchased 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at $53,910. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $67.50 per share, with a total value of $337,500.00. Following the completion of the transaction, the chief executive officer owned 1,645,632 shares of the company’s stock, valued at approximately $111,080,160. The trade was a 0.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its stake in shares of 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. Activest Wealth Management increased its position in Enphase Energy by 52,000.0% during the 4th quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 1,040 shares during the period. Ascentis Independent Advisors bought a new position in Enphase Energy during the first quarter worth $33,000. Finally, Danske Bank A S bought a new position in shares of Enphase Energy in the 3rd quarter worth about $39,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.