Enphase Energy’s (ENPH) Buy Rating Reaffirmed at Roth Mkm

Enphase Energy (NASDAQ:ENPH)‘s stock had its “buy” rating reaffirmed by investment analysts at Roth Mkm in a report released on Thursday, Benzinga reports. They presently have a $140.00 price objective on the semiconductor company’s stock. Roth Mkm’s target price indicates a potential upside of 27.97% from the company’s current price.

Other research analysts also recently issued reports about the company. Citigroup downgraded Enphase Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Royal Bank of Canada initiated coverage on Enphase Energy in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 price target on the stock. Canaccord Genuity Group initiated coverage on Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target on the stock. BMO Capital Markets boosted their price target on Enphase Energy from $106.00 to $110.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Finally, Truist Financial raised Enphase Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $145.00 in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $149.94.

Enphase Energy Stock Down 2.4 %

Shares of ENPH traded down $2.65 during midday trading on Thursday, reaching $109.40. 675,084 shares of the stock were exchanged, compared to its average volume of 4,036,511. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $228.50. The firm has a 50 day simple moving average of $120.33 and a 200-day simple moving average of $112.19. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The company has a market cap of $14.88 billion, a price-to-earnings ratio of 35.75, a P/E/G ratio of 3.06 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The business had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Research analysts forecast that Enphase Energy will post 2.09 EPS for the current year.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the sale, the executive vice president now owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold 34,285 shares of company stock valued at $4,054,428 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently modified their holdings of the business. Legato Capital Management LLC acquired a new stake in shares of Enphase Energy in the 4th quarter valued at $1,542,000. Assenagon Asset Management S.A. boosted its holdings in shares of Enphase Energy by 348.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after acquiring an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Enphase Energy during the 4th quarter valued at $566,000. Glenmede Trust Co. NA raised its position in Enphase Energy by 92.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 1,521 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Enphase Energy by 8.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock worth $17,013,000 after purchasing an additional 10,729 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.