Enphase Energy (NASDAQ:ENPH) Upgraded at BNP Paribas

BNP Paribas upgraded shares of Enphase Energy (NASDAQ:ENPH) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday morning, Marketbeat reports. The brokerage currently has $144.00 price objective on the semiconductor company’s stock, up from their prior price objective of $120.00.

A number of other brokerages have also weighed in on ENPH. TD Cowen raised their price objective on Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a report on Wednesday, April 24th. Canaccord Genuity Group decreased their price objective on Enphase Energy from $150.00 to $140.00 and set a buy rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Enphase Energy from $124.00 to $130.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Wells Fargo & Company cut their target price on Enphase Energy from $141.00 to $130.00 and set an overweight rating for the company in a research note on Wednesday, April 24th. Finally, Craig Hallum raised their target price on Enphase Energy from $147.00 to $153.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $128.96.

Enphase Energy Trading Down 0.9 %

Shares of ENPH stock opened at $107.86 on Wednesday. The stock has a 50 day simple moving average of $112.32 and a 200-day simple moving average of $115.20. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 56.18, a PEG ratio of 5.59 and a beta of 1.71. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company’s revenue for the quarter was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. On average, equities research analysts expect that Enphase Energy will post 1.24 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the completion of the transaction, the executive vice president now directly owns 107,943 shares in the company, valued at approximately $13,306,133.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Thurman J. Rodgers sold 319,526 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the transaction, the director now directly owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ENPH. Swedbank AB purchased a new position in shares of Enphase Energy in the 1st quarter valued at about $424,130,000. Baillie Gifford & Co. boosted its stake in shares of Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares during the period. Norges Bank purchased a new position in shares of Enphase Energy in the 4th quarter valued at about $149,425,000. Canada Pension Plan Investment Board purchased a new position in shares of Enphase Energy in the 1st quarter valued at about $59,128,000. Finally, Robeco Schweiz AG purchased a new position in shares of Enphase Energy in the 2nd quarter valued at about $31,249,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.