Oppenheimer Raises Enphase Energy (NASDAQ:ENPH) Price Target to $134.00

Enphase Energy (NASDAQ:ENPH) had its price target increased by Oppenheimer from $133.00 to $134.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

A number of other research analysts have also recently weighed in on ENPH. Wells Fargo & Company upgraded Enphase Energy from an equal weight rating to an overweight rating and lifted their target price for the company from $98.00 to $141.00 in a report on Monday, January 8th. Canaccord Genuity Group began coverage on Enphase Energy in a report on Tuesday, January 16th. They issued a buy rating and a $142.00 target price on the stock. Mizuho reduced their target price on Enphase Energy from $150.00 to $148.00 and set a buy rating on the stock in a report on Friday, April 19th. Susquehanna reiterated a positive rating and issued a $140.00 target price on shares of Enphase Energy in a report on Friday, April 5th. Finally, Citigroup cut Enphase Energy from a buy rating to a neutral rating and reduced their target price for the company from $126.00 to $121.00 in a report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $141.00.

Enphase Energy Trading Down 5.6 %

Shares of Enphase Energy stock opened at $107.17 on Wednesday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The firm has a market cap of $14.57 billion, a PE ratio of 55.82, a P/E/G ratio of 3.24 and a beta of 1.47. The business’s fifty day moving average is $119.28 and its two-hundred day moving average is $111.97. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Analysts anticipate that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was bought 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 directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Over the last three months, insiders sold 34,285 shares of company stock worth $4,054,428. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 valued at $2,066,846,000 after purchasing an additional 192,854 shares during the period. Baillie Gifford & Co. raised its stake 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 valued at $539,102,000 after purchasing an additional 4,078,723 shares during the period. Northern Trust Corp raised its stake 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 valued at $180,314,000 after purchasing an additional 3,940 shares during the period. Norges Bank acquired a new stake in Enphase Energy during the 4th quarter valued at $149,425,000. Finally, Schroder Investment Management Group raised its stake 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 valued at $135,080,000 after purchasing an additional 35,681 shares during the period. 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.