Enphase Energy (NASDAQ:ENPH) PT Raised to $153.00 at Craig Hallum

Enphase Energy (NASDAQ:ENPH) had its price target upped by Craig Hallum from $147.00 to $153.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on ENPH. Glj Research started coverage on Enphase Energy in a research note on Tuesday, June 25th. They set a sell rating and a $45.82 price objective for the company. BMO Capital Markets dropped their price target on Enphase Energy from $118.00 to $113.00 and set a market perform rating for the company in a research report on Wednesday, April 24th. Truist Financial dropped their price target on Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research report on Tuesday, April 23rd. Barclays dropped their price target on Enphase Energy from $134.00 to $131.00 and set an overweight rating for the company in a research report on Friday, July 12th. Finally, DZ Bank started coverage on Enphase Energy in a research report on Wednesday, April 17th. They issued a hold rating and a $116.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $129.70.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $119.34 on Wednesday. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $175.59. The stock has a 50 day moving average of $115.31 and a two-hundred day moving average of $115.32. The company has a current ratio of 4.23, a quick ratio of 3.78 and a debt-to-equity ratio of 1.36. The firm has a market cap of $16.24 billion, a P/E ratio of 62.16, a price-to-earnings-growth ratio of 5.73 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm had revenue of $303.80 million for the quarter, compared to analysts’ expectations of $309.73 million. During the same quarter last year, the firm posted $1.16 earnings per share. Enphase Energy’s quarterly revenue was down 57.3% on a year-over-year basis. On average, analysts expect that Enphase Energy will post 1.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now directly owns 107,943 shares in the company, valued at $13,306,133.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Thurman J. Rodgers sold 319,526 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the sale, the director now directly owns 1,984,562 shares in the company, valued at $251,106,629.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the sale, the executive vice president now owns 107,943 shares in the company, valued at $13,306,133.61. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Institutional Trading of Enphase Energy

Several hedge funds have recently modified their holdings of ENPH. GAMMA Investing LLC purchased a new position in Enphase Energy in the fourth quarter valued at $206,000. Assenagon Asset Management S.A. increased its holdings in Enphase Energy by 348.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after buying an additional 173,628 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Enphase Energy in the fourth quarter valued at $41,068,000. Northern Trust Corp increased its holdings in Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after buying an additional 3,940 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Enphase Energy by 364.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after buying an additional 85,284 shares during the last quarter. 72.12% of the stock is currently 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.