Enphase Energy, Inc. (NASDAQ:ENPH) Receives $126.42 Average Price Target from Brokerages

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given an average rating of “Hold” by the thirty analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $126.42.

A number of analysts have recently weighed in on the stock. Susquehanna upped their target price on shares of Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. Roth Mkm reaffirmed a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a research note on Wednesday, July 24th. Bank of America dropped their price target on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada lowered their price objective on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, Piper Sandler lifted their price objective on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 192,854 shares during the last quarter. Baillie Gifford & Co. raised its position in Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares during the period. Swedbank AB purchased a new position in shares of Enphase Energy during the 1st quarter worth $424,130,000. Northern Trust Corp grew its position in shares of Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after acquiring an additional 3,940 shares during the period. Finally, Electron Capital Partners LLC increased its stake in shares of Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after purchasing an additional 1,078,154 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Price Performance

ENPH stock opened at $104.17 on Friday. The firm has a 50-day moving average of $112.84 and a 200 day moving average of $113.93. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The company has a market cap of $14.17 billion, a P/E ratio of 54.26, a PEG ratio of 6.19 and a beta of 1.72. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. On average, sell-side analysts forecast that Enphase Energy will post 1.19 EPS for the current 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.