Enphase Energy, Inc. (NASDAQ:ENPH – Get Free Report) has been assigned a consensus rating of “Hold” from the twenty-five ratings firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $46.5708.
ENPH has been the topic of several recent research reports. The Goldman Sachs Group lifted their price target on Enphase Energy from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Jefferies Financial Group lifted their price target on Enphase Energy from $41.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley set a $27.00 price target on Enphase Energy in a research note on Friday, May 8th. Finally, Wall Street Zen raised Enphase Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th.
Read Our Latest Research Report on ENPH
Enphase Energy Stock Performance
Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. Enphase Energy had a return on equity of 16.88% and a net margin of 9.64%.The firm had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.28 million. During the same quarter last year, the business posted $0.68 EPS. The company’s revenue for the quarter was down 20.6% on a year-over-year basis. Equities analysts expect that Enphase Energy will post 0.85 EPS for the current fiscal year.
Insider Activity at Enphase Energy
In related news, Director Richard Mora sold 700 shares of Enphase Energy 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 sale, the director owned 13,922 shares of the company’s stock, valued at approximately $893,792.40. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer 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. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is owned by company insiders.
Institutional Trading of Enphase Energy
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Enphase Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock worth $523,365,000 after buying an additional 246,876 shares during the last quarter. Norges Bank acquired a new position in Enphase Energy during the fourth quarter worth approximately $118,190,000. Invesco Ltd. increased its position in Enphase Energy by 36.2% during the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock worth $101,244,000 after buying an additional 839,468 shares during the last quarter. Geode Capital Management LLC increased its position in Enphase Energy by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock worth $80,478,000 after buying an additional 11,220 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Enphase Energy by 42.4% during the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company’s stock worth $69,359,000 after buying an additional 546,460 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.
About Enphase Energy
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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