Guggenheim Raises Enphase Energy (NASDAQ:ENPH) Price Target to $93.00

Enphase Energy (NASDAQ:ENPH) had its target price boosted by Guggenheim from $92.00 to $93.00 in a report published on Wednesday morning, Benzinga reports. They currently have a sell rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. upped their target price on Enphase Energy from $124.00 to $130.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Glj Research began coverage on Enphase Energy in a report on Tuesday, June 25th. They set a sell rating and a $45.82 price objective for the company. Susquehanna increased their price objective on Enphase Energy from $140.00 to $147.00 and gave the company a positive rating in a report on Monday, July 15th. Bank of America reduced their price objective on Enphase Energy from $71.00 to $70.00 and set an underperform rating for the company in a report on Wednesday, July 17th. Finally, Wells Fargo & Company reduced their price objective on Enphase Energy from $141.00 to $130.00 and set an overweight rating for the company in a report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $129.70.

Enphase Energy Stock Up 1.5 %

Shares of NASDAQ:ENPH opened at $119.34 on Wednesday. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of 62.16, a P/E/G ratio of 5.73 and a beta of 1.71. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.78. The business’s 50-day moving average is $115.31 and its 200-day moving average is $115.32. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $175.59.

Enphase Energy (NASDAQ:ENPH) last issued 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). The company had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share. Equities research analysts predict that Enphase Energy will post 1.29 earnings per share for the current year.

Insider Activity

In related news, CFO Mandy Yang acquired 4,000 shares of Enphase Energy stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the purchase, the chief financial officer now owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Enphase Energy news, CFO Mandy Yang bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the purchase, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thurman J. Rodgers sold 319,526 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 1,984,562 shares in the company, valued at $251,106,629.86. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Large investors have recently made changes to their positions in the business. Bogart Wealth LLC purchased a new position in Enphase Energy in the 4th quarter worth approximately $26,000. Manchester Capital Management LLC grew its position in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares during the period. CVA Family Office LLC bought a new stake in Enphase Energy in the 4th quarter worth approximately $31,000. Chilton Capital Management LLC grew its position in Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the period. Finally, YHB Investment Advisors Inc. bought a new stake in Enphase Energy in the 1st quarter worth approximately $35,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

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.