Piper Sandler Raises Enphase Energy (NASDAQ:ENPH) Price Target to $120.00

Enphase Energy (NASDAQ:ENPH) had its price target hoisted by Piper Sandler from $111.00 to $120.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other research analysts have also issued reports on ENPH. DZ Bank assumed coverage on Enphase Energy in a research report on Wednesday, April 17th. They set a hold rating and a $116.00 price objective for the company. Craig Hallum reduced their price objective on Enphase Energy from $159.00 to $147.00 and set a buy rating for the company in a research report on Wednesday, April 24th. TD Cowen boosted their price objective on Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Mizuho reduced their price objective on Enphase Energy from $150.00 to $148.00 and set a buy rating for the company in a research report on Friday, April 19th. Finally, Bank of America reduced their price objective on Enphase Energy from $71.00 to $70.00 and set an underperform rating for the company in a research report on Wednesday, July 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $129.77.

Enphase Energy Price Performance

Shares of ENPH opened at $116.91 on Monday. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of 60.89, a PEG ratio of 4.84 and a beta of 1.71. The stock has a 50 day moving average of $115.20 and a 200-day moving average of $115.30. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $182.26.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. Enphase Energy’s revenue was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 EPS. As a group, analysts forecast that Enphase Energy will post 1.31 EPS for the current year.

Insider Buying and Selling

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Enphase Energy news, CFO Mandy Yang purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the transaction, the chief financial officer now directly owns 62,973 shares in the company, valued at $6,564,305.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares in the company, valued at $13,306,133.61. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently bought and sold shares of the business. Bogart Wealth LLC bought a new position in Enphase Energy in the 4th quarter valued at $26,000. Manchester Capital Management LLC boosted its position in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 203 shares during the last quarter. CVA Family Office LLC bought a new position in Enphase Energy in the 4th quarter valued at $31,000. Chilton Capital Management LLC lifted its stake in shares of Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 246 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Enphase Energy in the 1st quarter valued at $35,000. 72.12% of the stock is currently owned by institutional investors.

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.