Enphase Energy (NASDAQ:ENPH) Upgraded at Guggenheim

Enphase Energy (NASDAQ:ENPH) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a report issued on Thursday, Analyst Price Targets reports. The firm currently has a $213.00 price objective on the semiconductor company’s stock. Guggenheim’s price objective points to a potential upside of 49.12% from the company’s previous close.

ENPH has been the topic of several other research reports. Susquehanna boosted their target price on Enphase Energy from $210.00 to $290.00 and gave the stock a “positive” rating in a report on Wednesday, November 17th. They noted that the move was a valuation call. Cowen boosted their target price on Enphase Energy from $225.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, November 17th. Craig Hallum boosted their target price on Enphase Energy from $175.00 to $186.00 and gave the stock a “hold” rating in a report on Wednesday, October 27th. They noted that the move was a valuation call. Truist boosted their target price on Enphase Energy from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, November 17th. Finally, BMO Capital Markets boosted their target price on Enphase Energy from $220.00 to $284.00 and gave the stock an “outperform” rating in a report on Thursday, November 18th. Nine analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy currently has an average rating of “Buy” and a consensus target price of $241.06.

ENPH opened at $142.84 on Thursday. The business’s 50 day moving average is $209.13 and its 200-day moving average is $187.88. The stock has a market cap of $19.27 billion, a PE ratio of 124.21 and a beta of 1.21. The company has a current ratio of 4.49, a quick ratio of 4.33 and a debt-to-equity ratio of 1.45. Enphase Energy has a twelve month low of $108.88 and a twelve month high of $282.46.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 26th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.11. Enphase Energy had a return on equity of 37.82% and a net margin of 13.44%. The company had revenue of $351.52 million for the quarter, compared to analysts’ expectations of $343.77 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 96.9% compared to the same quarter last year. As a group, analysts forecast that Enphase Energy will post 1.45 EPS for the current year.

In related news, Director Richard Mora sold 19,000 shares of the company’s stock in a transaction on Friday, October 29th. The shares were sold at an average price of $229.17, for a total value of $4,354,230.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Badrinarayanan Kothandaraman sold 30,000 shares of the business’s stock in a transaction on Thursday, December 30th. The stock was sold at an average price of $184.71, for a total transaction of $5,541,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,932 shares of company stock worth $44,170,626. 5.00% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ENPH. Kistler Tiffany Companies LLC lifted its position in Enphase Energy by 1,811.1% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 172 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 163 shares during the last quarter. Dark Forest Capital Management LP lifted its position in Enphase Energy by 481.0% during the 3rd quarter. Dark Forest Capital Management LP now owns 244 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 202 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Enphase Energy by 48.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 278 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 91 shares during the last quarter. Berman Capital Advisors LLC lifted its position in Enphase Energy by 271.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 230 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 168 shares during the last quarter. Finally, Arlington Partners LLC acquired a new position in Enphase Energy during the 3rd quarter worth $53,000. 68.01% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.

Featured Article: Gap Up Stocks

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.