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

Enphase Energy (NASDAQ:ENPH) had its target price raised by equities research analysts at Susquehanna from $32.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price objective points to a potential upside of 0.25% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein initiated coverage on shares of Enphase Energy in a research report on Tuesday, June 16th. They set a “market perform” rating and a $56.00 price objective for the company. Oppenheimer dropped their target price on shares of Enphase Energy from $68.00 to $57.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Barclays raised shares of Enphase Energy from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $30.00 to $51.00 in a research note on Thursday, June 18th. The Goldman Sachs Group upped their price target on shares of Enphase Energy from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus target price of $47.11.

Enphase Energy Stock Up 4.3%

Enphase Energy stock opened at $44.89 on Friday. The stock has a market capitalization of $5.92 billion, a PE ratio of 44.45 and a beta of 1.62. Enphase Energy has a 12 month low of $25.77 and a 12 month high of $73.74. The business has a 50 day simple moving average of $50.88 and a 200-day simple moving average of $43.11. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.80 and a quick ratio of 3.20.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The business had revenue of $282.90 million during the quarter, compared to the consensus estimate of $282.27 million. During the same period in the prior year, the company posted $0.68 EPS. The business’s quarterly revenue was down 20.6% on a year-over-year basis. On average, analysts anticipate that Enphase Energy will post 0.85 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Mora sold 700 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $64.20, for a total value of $44,940.00. Following the transaction, the director directly owned 13,922 shares in the company, valued at approximately $893,792.40. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average price of $67.50 per share, with a total value of $337,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at $111,080,160. This trade represents a 0.30% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently made changes to their positions in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 514 shares during the period. Glass Jacobson Investment Advisors llc raised its holdings in shares of Enphase Energy by 77.8% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 350 shares in the last quarter. Stance Capital LLC purchased a new stake in shares of Enphase Energy during the 3rd quarter worth $32,000. Activest Wealth Management grew its stake in shares of Enphase Energy by 52,000.0% during the fourth quarter. Activest Wealth Management now owns 1,042 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Ascentis Independent Advisors acquired a new position in shares of Enphase Energy during the first quarter worth $33,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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.