Enphase Energy (NASDAQ:ENPH) Price Target Raised to $100.00 at Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its target price upped by Morgan Stanley from $98.00 to $100.00 in a research note released on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on ENPH. TD Cowen boosted their target price on Enphase Energy from $140.00 to $145.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Barclays reduced their target price on Enphase Energy from $131.00 to $129.00 and set an overweight rating for the company in a report on Thursday, July 25th. Canaccord Genuity Group reduced their price objective on Enphase Energy from $150.00 to $140.00 and set a buy rating for the company in a report on Wednesday, July 24th. BMO Capital Markets increased their target price on Enphase Energy from $110.00 to $115.00 and gave the company a market perform rating in a report on Wednesday, July 24th. Finally, Susquehanna lifted their target price on shares of Enphase Energy from $140.00 to $147.00 and gave the stock a positive rating in a research note on Monday, July 15th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $128.76.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $123.00 on Wednesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. 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 firm has a market capitalization of $16.74 billion, a price-to-earnings ratio of 64.06, a PEG ratio of 5.59 and a beta of 1.71. The company’s 50-day moving average is $109.59 and its two-hundred day moving average is $116.01.

Enphase Energy (NASDAQ:ENPH) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s quarterly revenue was down 57.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. Analysts forecast that Enphase Energy will post 1.24 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy 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 in the company, valued at approximately $13,306,133.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value 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 $251,106,629.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the firm’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 sale, the executive vice president now directly owns 107,943 shares in the company, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in Enphase Energy during the 4th quarter valued at about $53,950,000. Cerity Partners LLC raised its stake in Enphase Energy by 25.1% during the 4th quarter. Cerity Partners LLC now owns 2,265 shares of the semiconductor company’s stock valued at $299,000 after acquiring an additional 455 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Enphase Energy during the 4th quarter worth $1,097,000. Federated Hermes Inc. increased its holdings in shares of Enphase Energy by 1,093.2% during the fourth quarter. Federated Hermes Inc. now owns 57,845 shares of the semiconductor company’s stock valued at $7,644,000 after purchasing an additional 52,997 shares during the period. Finally, CWM LLC raised its stake in shares of Enphase Energy by 5.9% during the fourth quarter. CWM LLC now owns 4,278 shares of the semiconductor company’s stock valued at $565,000 after purchasing an additional 238 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.