Enphase Energy (NASDAQ:ENPH) Rating Increased to Buy at Jefferies Financial Group

Enphase Energy (NASDAQ:ENPH) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $57.00 target price on the semiconductor company’s stock, up from their previous target price of $42.00. Jefferies Financial Group’s price target points to a potential upside of 14.60% from the company’s previous close.

ENPH has been the subject of several other reports. Mizuho set a $39.00 price target on shares of Enphase Energy in a report on Wednesday, February 4th. Oppenheimer increased their target price on Enphase Energy from $67.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Wall Street Zen cut Enphase Energy from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Susquehanna reiterated a “neutral” rating and issued a $46.00 price objective on shares of Enphase Energy in a report on Wednesday, February 4th. Finally, BMO Capital Markets upgraded shares of Enphase Energy from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $31.00 to $41.00 in a research report on Wednesday, February 4th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.28.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $49.74 on Wednesday. The firm has a 50 day moving average of $38.83 and a 200-day moving average of $35.79. Enphase Energy has a 12 month low of $25.77 and a 12 month high of $67.20. The company has a current ratio of 2.07, a quick ratio of 1.84 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $6.52 billion, a PE ratio of 38.56 and a beta of 1.37.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.19. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The business had revenue of $343.32 million for the quarter, compared to analysts’ expectations of $340.45 million. During the same period last year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts predict that Enphase Energy will post 2.08 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were purchased at an average price of $51.98 per share, for a total transaction of $259,900.00. Following the completion of the acquisition, the chief executive officer owned 1,640,632 shares of the company’s stock, valued at approximately $85,280,051.36. This trade represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mandy Yang sold 6,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $33.01, for a total transaction of $198,060.00. Following the transaction, the executive vice president directly owned 68,987 shares in the company, valued at $2,277,260.87. This trade represents a 8.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 157,100 shares of company stock worth $4,624,815. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PFG Investments LLC increased its holdings in shares of Enphase Energy by 2.2% during the fourth quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock valued at $391,000 after acquiring an additional 260 shares in the last quarter. Swiss Life Asset Management Ltd boosted its position in shares of Enphase Energy by 5.5% during the third quarter. Swiss Life Asset Management Ltd now owns 6,132 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 319 shares during the last quarter. Glass Jacobson Investment Advisors llc raised its position in 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 buying an additional 350 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Enphase Energy by 19.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 392 shares during the last quarter. Finally, Tempus Wealth Planning LLC grew its stake in shares of Enphase Energy by 4.8% in the 3rd quarter. Tempus Wealth Planning LLC now owns 8,556 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 394 shares in the last quarter. 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.