Enphase Energy (NASDAQ:ENPH) Earns Hold Rating from Analysts at DZ Bank

DZ Bank initiated coverage on shares of Enphase Energy (NASDAQ:ENPH) in a research note issued on Wednesday, MarketBeat Ratings reports. The firm set a “hold” rating and a $116.00 price target on the semiconductor company’s stock. DZ Bank’s price target points to a potential upside of 3.19% from the company’s current price.

Several other research analysts have also weighed in on ENPH. Truist Financial upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $145.00 in a research report on Tuesday, January 23rd. Morgan Stanley upped their price target on shares of Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Citigroup downgraded Enphase Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $126.00 to $121.00 in a research report on Friday, April 5th. Canaccord Genuity Group started coverage on Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective on the stock. Finally, Royal Bank of Canada began coverage on shares of Enphase Energy in a report on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 target price on the stock. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $149.94.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH traded up $1.94 during trading on Wednesday, reaching $112.41. The company had a trading volume of 3,083,896 shares, compared to its average volume of 4,077,238. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $231.42. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. The stock’s fifty day moving average price is $120.44 and its 200 day moving average price is $112.19. The firm has a market capitalization of $15.29 billion, a price-to-earnings ratio of 37.05, a price-to-earnings-growth ratio of 3.12 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. As a group, equities research analysts predict that Enphase Energy will post 2.09 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was bought at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock valued at $4,054,428 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its stake in Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares during the period. Norges Bank bought a new position in Enphase Energy in the 4th quarter worth about $325,230,000. Nordea Investment Management AB increased its stake in shares of Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after purchasing an additional 501,385 shares during the period. Clearbridge Investments LLC boosted its position in shares of Enphase Energy by 86.2% during the first quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock worth $161,657,000 after buying an additional 370,992 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Enphase Energy by 67.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 884,240 shares of the semiconductor company’s stock worth $185,938,000 after buying an additional 356,495 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.