Analysts Set Enphase Energy, Inc. (NASDAQ:ENPH) Price Target at $130.45

Enphase Energy, Inc. (NASDAQ:ENPH) has earned a consensus recommendation of “Hold” from the thirty-two analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $130.45.

Several analysts have recently weighed in on the stock. Piper Sandler restated a “neutral” rating and set a $111.00 price objective (down previously from $113.00) on shares of Enphase Energy in a research report on Wednesday, April 24th. BMO Capital Markets cut their price objective on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Oppenheimer boosted their target price on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a research report on Monday, June 10th. Finally, Truist Financial lowered their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd.

Insiders Place Their Bets

In other Enphase Energy news, CFO Mandy Yang purchased 4,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the purchase, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the transaction, the executive vice president now owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mandy Yang bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the purchase, the chief financial officer now directly owns 62,973 shares in the company, valued at approximately $6,564,305.52. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 349,526 shares of company stock valued at $43,721,225. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its stake in Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after purchasing an additional 4,078,723 shares in the last quarter. Swedbank AB purchased a new stake in shares of Enphase Energy in the first quarter worth approximately $424,130,000. Norges Bank bought a new stake in shares of Enphase Energy during the 4th quarter worth approximately $149,425,000. Nordea Investment Management AB boosted its holdings in Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after acquiring an additional 501,385 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Enphase Energy in the 1st quarter valued at $59,128,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Stock Down 5.2 %

Shares of NASDAQ:ENPH opened at $99.71 on Friday. The firm has a fifty day moving average price of $117.05 and a two-hundred day moving average price of $118.09. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78. Enphase Energy has a one year low of $73.49 and a one year high of $192.22. The company has a market cap of $13.57 billion, a price-to-earnings ratio of 51.93, a PEG ratio of 4.09 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.17). Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The firm had revenue of $263.34 million during the quarter, compared to the consensus estimate of $280.06 million. Analysts anticipate that Enphase Energy will post 1.43 EPS for the current fiscal year.

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.