Enphase Energy (NASDAQ:ENPH – Free Report) had its price target upped by Jefferies Financial Group from $41.00 to $64.00 in a report issued on Friday,MarketScreener reports. Jefferies Financial Group currently has a buy rating on the semiconductor company’s stock.
Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Enphase Energy from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. TD Cowen raised their price target on Enphase Energy from $35.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, May 29th. Evercore set a $37.00 price target on Enphase Energy in a report on Monday, May 4th. Glj Research reaffirmed a “sell” rating and set a $21.70 price objective on shares of Enphase Energy in a research note on Thursday. Finally, Barclays cut their price objective on shares of Enphase Energy from $31.00 to $30.00 and set an “underweight” rating on the stock in a report on Monday, May 4th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.65.
Get Our Latest Analysis on ENPH
Enphase Energy Trading Down 0.6%
Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $282.28 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. Enphase Energy’s revenue for the quarter was down 20.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. As a group, sell-side analysts predict that Enphase Energy will post 0.84 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $67.50 per share, for a total transaction of $337,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,645,632 shares of the company’s stock, valued at $111,080,160. The trade was a 0.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Mora sold 700 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $64.20, for a total value of $44,940.00. Following the completion of the transaction, the director owned 13,922 shares in the company, valued at approximately $893,792.40. This trade represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP raised its stake in shares of Enphase Energy by 37.9% in the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company’s stock valued at $694,000 after acquiring an additional 3,077 shares during the period. Acadian Asset Management LLC purchased a new stake in Enphase Energy during the 1st quarter worth $121,000. Arrowstreet Capital Limited Partnership acquired a new stake in Enphase Energy in the 2nd quarter valued at $1,299,000. Guggenheim Capital LLC raised its position in Enphase Energy by 14.1% in the second quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company’s stock valued at $1,049,000 after purchasing an additional 3,273 shares during the period. Finally, California Public Employees Retirement System raised its position in Enphase Energy by 11.9% in the second quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company’s stock valued at $9,468,000 after purchasing an additional 25,450 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.
Enphase Energy Company Profile
Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.
The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.
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