Enphase Energy (NASDAQ:ENPH) PT Raised to $149.00 at B. Riley

Enphase Energy (NASDAQ:ENPH) had its price objective lifted by B. Riley from $121.00 to $149.00 in a research report sent to investors on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Enphase Energy’s Q1 2024 earnings at $0.18 EPS, Q2 2024 earnings at $0.40 EPS, Q3 2024 earnings at $0.77 EPS, Q4 2024 earnings at $0.89 EPS, FY2024 earnings at $2.26 EPS and FY2025 earnings at $4.38 EPS.

Several other brokerages have also issued reports on ENPH. Royal Bank of Canada began coverage on shares of Enphase Energy in a report on Wednesday, February 14th. They set an outperform rating and a $140.00 price objective on the stock. Barclays lifted their price target on shares of Enphase Energy from $106.00 to $115.00 and gave the stock an equal weight rating in a report on Thursday, February 8th. KeyCorp reaffirmed a sector weight rating on shares of Enphase Energy in a report on Thursday, January 4th. Morgan Stanley lifted their price target on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Finally, StockNews.com lowered shares of Enphase Energy from a hold rating to a sell rating in a report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $141.00.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $107.83 on Monday. The firm has a market cap of $14.66 billion, a PE ratio of 56.16, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. The firm’s 50 day simple moving average is $118.79 and its 200-day simple moving average is $111.93. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy has a one year low of $73.49 and a one year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) 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 15.10% and a return on equity of 31.34%. As a group, equities analysts predict that Enphase Energy will post 2.01 EPS for the current year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the sale, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the completion of the transaction, the executive vice president now owns 119,948 shares in the company, valued at approximately $13,948,752.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold a total of 34,285 shares of company stock valued at $4,054,428 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ENPH. Bogart Wealth LLC acquired a new position in shares of Enphase Energy during the 4th quarter worth about $26,000. Geneos Wealth Management Inc. raised its holdings in Enphase Energy by 68.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 102 shares during the last quarter. CVA Family Office LLC acquired a new stake in Enphase Energy in the 4th quarter valued at about $31,000. Parkside Financial Bank & Trust raised its holdings in Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.