Enphase Energy (ENPH) PT Set at $14.00 by Roth Capital

Enphase Energy (NASDAQ:ENPH) has been given a $14.00 target price by analysts at Roth Capital in a report issued on Thursday. The firm currently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price target would indicate a potential upside of 52.34% from the stock’s previous close.

Several other brokerages have also recently issued reports on ENPH. Raymond James cut shares of Enphase Energy from a “market perform” rating to an “underperform” rating in a report on Tuesday. They noted that the move was a valuation call. TheStreet upgraded shares of Enphase Energy from a “d+” rating to a “c-” rating in a report on Wednesday, November 28th. Zacks Investment Research upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Friday, March 1st. ValuEngine upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 target price (up previously from $9.00) on shares of Enphase Energy in a report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.50.

NASDAQ ENPH traded down $0.19 on Thursday, reaching $9.19. 1,662,108 shares of the company’s stock traded hands, compared to its average volume of 2,632,025. Enphase Energy has a 12 month low of $3.70 and a 12 month high of $9.70. The company has a debt-to-equity ratio of 10.50, a current ratio of 1.51 and a quick ratio of 1.42. The stock has a market capitalization of $1.02 billion, a P/E ratio of -76.58 and a beta of 1.46.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 26th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $85.40 million. During the same quarter last year, the company earned $0.01 EPS. The business’s revenue was up 15.7% on a year-over-year basis. As a group, equities analysts expect that Enphase Energy will post 0.21 earnings per share for the current fiscal year.

In related news, CEO Badrinarayanan Kothandaraman purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average price of $8.74 per share, for a total transaction of $87,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 143,839 shares in the company, valued at approximately $1,257,152.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David A. Ranhoff sold 60,000 shares of Enphase Energy stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.14, for a total transaction of $548,400.00. The disclosure for this sale can be found here. Insiders sold 160,935 shares of company stock worth $1,459,403 in the last 90 days. Company insiders own 13.52% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ENPH. Tenzing Global Management LLC boosted its holdings in Enphase Energy by 25.0% in the third quarter. Tenzing Global Management LLC now owns 3,750,000 shares of the semiconductor company’s stock valued at $18,188,000 after acquiring an additional 750,000 shares in the last quarter. Park West Asset Management LLC boosted its holdings in Enphase Energy by 18.8% in the fourth quarter. Park West Asset Management LLC now owns 4,487,779 shares of the semiconductor company’s stock valued at $21,227,000 after acquiring an additional 709,870 shares in the last quarter. Vanguard Group Inc boosted its holdings in Enphase Energy by 13.1% in the third quarter. Vanguard Group Inc now owns 4,128,064 shares of the semiconductor company’s stock valued at $20,021,000 after acquiring an additional 479,564 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Enphase Energy by 13.1% in the third quarter. Vanguard Group Inc. now owns 4,128,064 shares of the semiconductor company’s stock valued at $20,021,000 after acquiring an additional 479,564 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Enphase Energy by 78.9% in the third quarter. AQR Capital Management LLC now owns 694,125 shares of the semiconductor company’s stock valued at $3,367,000 after acquiring an additional 306,193 shares in the last quarter. Institutional investors and hedge funds own 43.03% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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