Enphase Energy (NASDAQ:ENPH) Price Target Raised to $45.00 at Susquehanna

Enphase Energy (NASDAQ:ENPH) had its target price boosted by Susquehanna from $32.00 to $45.00 in a research note published on Friday morning, Marketbeat.com reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other analysts also recently commented on ENPH. UBS Group set a $85.00 price objective on shares of Enphase Energy in a research report on Friday, May 22nd. Wells Fargo & Company dropped their target price on shares of Enphase Energy from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Evercore set a $37.00 price target on Enphase Energy in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft raised their price target on Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Finally, Barclays upgraded Enphase Energy from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $30.00 to $51.00 in a research report on Thursday, June 18th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average target price of $47.11.

Enphase Energy Stock Performance

Enphase Energy stock traded down $0.06 during midday trading on Friday, hitting $44.83. The stock had a trading volume of 2,935,665 shares, compared to its average volume of 6,423,830. The firm’s fifty day moving average is $51.16 and its two-hundred day moving average is $43.13. The company has a market capitalization of $5.91 billion, a PE ratio of 44.39 and a beta of 1.62. Enphase Energy has a 52-week low of $25.77 and a 52-week high of $73.74. The company has a current ratio of 3.80, a quick ratio of 3.20 and a debt-to-equity ratio of 0.52.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The company had revenue of $282.90 million for the quarter, compared to analysts’ expectations of $282.27 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The firm’s revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. On average, research analysts forecast that Enphase Energy will post 0.82 EPS for the current year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 700 shares of Enphase Energy stock in a transaction on Monday, June 1st. The shares were sold at an average price of $64.20, for a total value of $44,940.00. Following the sale, the director directly owned 13,922 shares in the company, valued at approximately $893,792.40. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at approximately $111,080,160. This represents a 0.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ENPH. Woodline Partners LP boosted its stake in Enphase Energy by 37.9% during the first quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock valued at $694,000 after buying an additional 3,077 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Enphase Energy in the 1st quarter worth approximately $121,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Enphase Energy during the 2nd quarter worth approximately $1,299,000. Guggenheim Capital LLC raised its holdings in shares of Enphase Energy by 14.1% during the 2nd quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock worth $1,049,000 after acquiring an additional 3,273 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Enphase Energy by 11.9% during the 2nd quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock valued at $9,468,000 after acquiring an additional 25,450 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.