Enphase Energy (NASDAQ:ENPH) Receives Buy Rating from Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Enphase Energy (NASDAQ:ENPH) in a report released on Thursday, Benzinga reports. The brokerage currently has a $140.00 price target on the semiconductor company’s stock.

A number of other equities analysts also recently commented on the stock. Susquehanna restated a positive rating and issued a $140.00 target price on shares of Enphase Energy in a research note on Friday, April 5th. Citigroup downgraded shares of Enphase Energy from a buy rating to a neutral rating and dropped their price objective for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Canaccord Genuity Group initiated coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They set a buy rating and a $142.00 price objective on the stock. Wells Fargo & Company upgraded shares of Enphase Energy from an equal weight rating to an overweight rating and increased their price objective for the company from $98.00 to $141.00 in a research note on Monday, January 8th. Finally, BMO Capital Markets increased their price objective on shares of Enphase Energy from $106.00 to $110.00 and gave the company a market perform rating in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $149.94.

Enphase Energy Price Performance

Shares of ENPH stock opened at $109.17 on Thursday. 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 market capitalization of $14.85 billion, a P/E ratio of 35.68, a P/E/G ratio of 3.10 and a beta of 1.47. The company’s 50-day simple moving average is $120.17 and its two-hundred day simple moving average is $112.17. Enphase Energy has a one year low of $73.49 and a one year high of $228.50.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to the consensus estimate 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 anticipate that Enphase Energy will post 2.09 EPS for the current year.

Insiders Place Their Bets

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were 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 available at this link. In related news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction on Friday, February 9th. The shares were 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 $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,285 shares of company stock valued at $4,054,428. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in Enphase Energy by 364.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after purchasing an additional 85,284 shares during the period. SteelPeak Wealth LLC purchased a new position in Enphase Energy in the first quarter valued at $592,000. AMF Tjanstepension AB increased its holdings in Enphase Energy by 5.2% in the first quarter. AMF Tjanstepension AB now owns 164,546 shares of the semiconductor company’s stock valued at $19,907,000 after buying an additional 8,190 shares in the last quarter. Bouvel Investment Partners LLC increased its holdings in Enphase Energy by 2.7% in the first quarter. Bouvel Investment Partners LLC now owns 13,807 shares of the semiconductor company’s stock valued at $1,670,000 after buying an additional 357 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new position in Enphase Energy in the first quarter valued at $470,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.