Enphase Energy (NASDAQ:ENPH) Given New $149.00 Price Target at B. Riley

Enphase Energy (NASDAQ:ENPH) had its price objective raised by B. Riley from $121.00 to $149.00 in a research report report published on Monday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other research firms have also commented on ENPH. StockNews.com lowered shares of Enphase Energy from a hold rating to a sell rating in a research report on Wednesday, February 7th. Piper Sandler decreased their target price on shares of Enphase Energy from $120.00 to $117.00 and set a neutral rating on the stock in a report on Friday, January 12th. Citigroup lowered shares of Enphase Energy from a buy rating to a neutral rating and decreased their target price for the company from $126.00 to $121.00 in a report on Friday, April 5th. Canaccord Genuity Group initiated coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They issued a buy rating and a $142.00 target price on the stock. Finally, Roth Mkm reissued a buy rating and issued a $140.00 target price on shares of Enphase Energy in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $141.00.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $107.17 on Monday. The stock has a market cap of $14.57 billion, a P/E ratio of 35.02, a P/E/G ratio of 3.16 and a beta of 1.47. 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 company has a fifty day moving average price of $119.28 and a two-hundred day moving average price of $111.97. Enphase Energy has a one year low of $73.49 and a one year high of $228.36.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share 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 analyst estimates 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 analysts predict that Enphase Energy will post 2.01 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock worth $4,054,428 in the last three months. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Enphase Energy

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Enphase Energy by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after purchasing an additional 192,854 shares during the period. Baillie Gifford & Co. increased 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 worth $539,102,000 after purchasing an additional 4,078,723 shares during the period. Northern Trust Corp increased its stake 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 worth $180,314,000 after purchasing an additional 3,940 shares during the period. Norges Bank purchased a new stake in Enphase Energy in the fourth quarter worth $149,425,000. Finally, Schroder Investment Management Group increased its stake in Enphase Energy by 3.3% in the third quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock worth $135,080,000 after purchasing an additional 35,681 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.