Enphase Energy, Inc. (NASDAQ:ENPH) Given Average Rating of “Buy” by Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have received an average recommendation of “Buy” from the twenty-six analysts that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $193.28.

Several brokerages recently commented on ENPH. Zacks Investment Research raised Enphase Energy from a “hold” rating to a “buy” rating and set a $172.00 price target for the company in a research note on Monday, April 5th. TheStreet lowered Enphase Energy from a “b-” rating to a “c” rating in a report on Tuesday, April 27th. Raymond James upgraded Enphase Energy from an “underperform” rating to a “market perform” rating in a report on Monday, March 8th. JPMorgan Chase & Co. cut their target price on Enphase Energy from $245.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, March 8th. Finally, Craig Hallum cut their target price on Enphase Energy from $210.00 to $175.00 in a research note on Wednesday, April 28th.

In other Enphase Energy news, EVP David A. Ranhoff sold 30,000 shares of the company’s stock in a transaction dated Monday, June 14th. The stock was sold at an average price of $150.00, for a total value of $4,500,000.00. Following the sale, the executive vice president now owns 186,949 shares in the company, valued at approximately $28,042,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric Branderiz sold 18,908 shares of the company’s stock in a transaction dated Tuesday, June 22nd. The shares were sold at an average price of $164.39, for a total value of $3,108,286.12. Following the completion of the sale, the chief financial officer now owns 125,024 shares in the company, valued at approximately $20,552,695.36. The disclosure for this sale can be found here. Insiders have sold a total of 211,911 shares of company stock valued at $30,019,363 in the last three months. 5.00% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Boston Private Wealth LLC raised its stake in Enphase Energy by 1.1% during the 4th quarter. Boston Private Wealth LLC now owns 5,497 shares of the semiconductor company’s stock worth $965,000 after buying an additional 60 shares during the period. Parallel Advisors LLC grew its holdings in Enphase Energy by 11.2% during the first quarter. Parallel Advisors LLC now owns 635 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 64 shares during the period. Trust Co. of Vermont grew its holdings in Enphase Energy by 31.2% during the first quarter. Trust Co. of Vermont now owns 282 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 67 shares during the period. Captrust Financial Advisors grew its holdings in Enphase Energy by 6.4% during the fourth quarter. Captrust Financial Advisors now owns 1,137 shares of the semiconductor company’s stock valued at $200,000 after purchasing an additional 68 shares during the period. Finally, Xponance Inc. grew its holdings in Enphase Energy by 0.3% during the fourth quarter. Xponance Inc. now owns 24,262 shares of the semiconductor company’s stock valued at $4,257,000 after purchasing an additional 80 shares during the period. Institutional investors own 65.68% of the company’s stock.

Shares of Enphase Energy stock opened at $170.24 on Thursday. The business has a 50-day simple moving average of $141.97. The company has a current ratio of 5.20, a quick ratio of 5.10 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $23.10 billion, a PE ratio of 274.58 and a beta of 1.16. Enphase Energy has a 52 week low of $43.42 and a 52 week high of $229.04.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, April 27th. The semiconductor company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.22. The company had revenue of $301.80 million for the quarter, compared to the consensus estimate of $291.83 million. Enphase Energy had a return on equity of 25.37% and a net margin of 11.11%. The firm’s quarterly revenue was up 46.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Equities research analysts anticipate that Enphase Energy will post 1.71 EPS for the current fiscal year.

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 services.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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