Enphase Energy, Inc. (NASDAQ:ENPH) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given an average rating of “Reduce” by the thirty-three analysts that are covering the stock, Marketbeat Ratings reports. Thirteen analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $46.8389.

ENPH has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Morgan Stanley set a $28.00 price target on shares of Enphase Energy in a research report on Thursday, October 16th. Wells Fargo & Company upped their price target on shares of Enphase Energy from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Mizuho dropped their price target on shares of Enphase Energy from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Monday, July 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Enphase Energy in a research report on Wednesday, October 8th.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $30.82 per share, with a total value of $154,100.00. Following the purchase, the chief executive officer owned 1,620,632 shares in the company, valued at approximately $49,947,878.24. The trade was a 0.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System raised its stake in shares of Enphase Energy by 771.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 60,100 shares of the semiconductor company’s stock valued at $2,127,000 after acquiring an additional 53,200 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Enphase Energy by 199.7% in the 3rd quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 613 shares during the period. Capital Advisors Inc. OK purchased a new position in shares of Enphase Energy in the 3rd quarter valued at $708,000. Salomon & Ludwin LLC raised its stake in shares of Enphase Energy by 761.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 761 shares during the period. Finally, Mather Group LLC. purchased a new position in shares of Enphase Energy in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Shares of ENPH opened at $36.08 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.82 and a current ratio of 1.97. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 28.19 and a beta of 1.56. The company’s 50 day simple moving average is $37.05 and its 200 day simple moving average is $40.68. Enphase Energy has a 1 year low of $29.89 and a 1 year high of $89.95.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The firm had revenue of $363.15 million during the quarter, compared to analyst estimates of $359.14 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. Enphase Energy’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts predict that Enphase Energy will post 2.08 EPS for the current year.

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.