Enphase Energy (NASDAQ:ENPH) Price Target Raised to $39.00

Enphase Energy (NASDAQ:ENPH) had its target price upped by investment analysts at Deutsche Bank Aktiengesellschaft from $38.00 to $39.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm presently has a “hold” rating on the semiconductor company’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 20.67% from the company’s current price.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group cut their target price on Enphase Energy from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Susquehanna reissued a “neutral” rating and set a $46.00 target price on shares of Enphase Energy in a research note on Wednesday, February 4th. BMO Capital Markets raised Enphase Energy from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $31.00 to $41.00 in a research note on Wednesday, February 4th. Wall Street Zen raised Enphase Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $30.00 price objective on shares of Enphase Energy in a research note on Wednesday, February 4th. Ten equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.06.

Enphase Energy Trading Down 0.7%

Shares of NASDAQ:ENPH opened at $32.32 on Thursday. The business has a 50-day moving average price of $42.50 and a 200-day moving average price of $36.67. The company has a quick ratio of 1.84, a current ratio of 2.07 and a debt-to-equity ratio of 0.53. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 25.08 and a beta of 1.39. Enphase Energy has a 52-week low of $25.77 and a 52-week high of $55.41.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.19. The firm had revenue of $343.32 million for the quarter, compared to the consensus estimate of $340.45 million. Enphase Energy had a return on equity of 20.31% and a net margin of 11.69%.The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. Equities analysts predict that Enphase Energy will post 2.08 EPS for the current year.

Insider Transactions at Enphase Energy

In other news, Director Thurman J. Rodgers sold 137,250 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the sale, the director owned 1,597,641 shares in the company, valued at $69,673,124.01. This trade represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of $51.98 per share, for a total transaction of $259,900.00. Following the acquisition, the chief executive officer directly owned 1,640,632 shares of the company’s stock, valued at approximately $85,280,051.36. The trade was a 0.31% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Enphase Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company’s stock valued at $523,365,000 after acquiring an additional 246,876 shares during the last quarter. Norges Bank acquired a new position in Enphase Energy in the fourth quarter valued at $118,190,000. Invesco Ltd. boosted its holdings in Enphase Energy by 36.2% in the fourth quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company’s stock valued at $101,244,000 after acquiring an additional 839,468 shares during the last quarter. Geode Capital Management LLC raised its position in Enphase Energy by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company’s stock valued at $80,478,000 after purchasing an additional 11,220 shares during the period. Finally, Coatue Management LLC raised its position in Enphase Energy by 95.3% in the third quarter. Coatue Management LLC now owns 1,647,893 shares of the semiconductor company’s stock valued at $58,319,000 after purchasing an additional 803,945 shares during the period. 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.