Enphase Energy, Inc. (NASDAQ:ENPH) Given Average Recommendation of “Buy” by Analysts

Enphase Energy, Inc. (NASDAQ:ENPH) has earned a consensus recommendation of “Buy” from the thirty-one ratings firms that are presently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $192.89.

A number of equities research analysts have recently issued reports on ENPH shares. Wolfe Research started coverage on shares of Enphase Energy in a report on Tuesday, August 31st. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Enphase Energy from $210.00 to $238.00 and gave the company an “overweight” rating in a report on Wednesday, July 21st. started coverage on shares of Enphase Energy in a report on Friday, June 25th. They issued a “buy” rating and a $220.00 target price on the stock. Piper Sandler upped their target price on shares of Enphase Energy from $195.00 to $202.00 and gave the company an “overweight” rating in a report on Thursday, July 15th. Finally, Citigroup started coverage on shares of Enphase Energy in a report on Friday, June 25th. They issued a “buy” rating on the stock.

NASDAQ:ENPH traded down $2.14 on Tuesday, hitting $157.95. 1,536,066 shares of the company’s stock were exchanged, compared to its average volume of 3,080,377. The firm has a 50-day moving average price of $174.86 and a 200-day moving average price of $159.42. The company has a debt-to-equity ratio of 1.59, a current ratio of 4.67 and a quick ratio of 4.57. Enphase Energy has a 52 week low of $65.41 and a 52 week high of $229.04. The company has a market cap of $21.26 billion, a P/E ratio of 123.40, a price-to-earnings-growth ratio of 3.38 and a beta of 1.16.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 27th. The semiconductor company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.42 by $0.11. The firm had revenue of $316.06 million for the quarter, compared to analysts’ expectations of $311.23 million. Enphase Energy had a net margin of 17.28% and a return on equity of 42.16%. The company’s revenue for the quarter was up 151.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. On average, research analysts expect that Enphase Energy will post 1.34 earnings per share for the current fiscal year.

In related news, COO Jeff Mcneil sold 7,529 shares of the stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $183.16, for a total transaction of $1,379,011.64. Following the sale, the chief operating officer now owns 178,319 shares in the company, valued at approximately $32,660,908.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 28,031 shares of the stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $183.87, for a total transaction of $5,154,059.97. Following the completion of the transaction, the executive vice president now directly owns 199,957 shares of the company’s stock, valued at approximately $36,766,093.59. The disclosure for this sale can be found here. Insiders have sold a total of 73,634 shares of company stock worth $12,895,553 in the last quarter. 5.00% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Enphase Energy by 81.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,901 shares of the semiconductor company’s stock valued at $6,633,000 after purchasing an additional 18,312 shares during the last quarter. Guggenheim Capital LLC lifted its stake in Enphase Energy by 3.0% in the 1st quarter. Guggenheim Capital LLC now owns 27,650 shares of the semiconductor company’s stock valued at $4,484,000 after purchasing an additional 800 shares during the last quarter. BlueCrest Capital Management Ltd raised its stake in shares of Enphase Energy by 12.9% during the first quarter. BlueCrest Capital Management Ltd now owns 21,345 shares of the semiconductor company’s stock valued at $3,461,000 after acquiring an additional 2,445 shares during the last quarter. Barclays PLC raised its stake in shares of Enphase Energy by 209.5% during the first quarter. Barclays PLC now owns 363,644 shares of the semiconductor company’s stock valued at $58,969,000 after acquiring an additional 246,140 shares during the last quarter. Finally, Navellier & Associates Inc raised its stake in shares of Enphase Energy by 16.4% during the second quarter. Navellier & Associates Inc now owns 53,590 shares of the semiconductor company’s stock valued at $9,841,000 after acquiring an additional 7,534 shares during the last quarter. 67.26% of the stock is owned by institutional investors and hedge funds.

About Enphase Energy

Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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