Enphase Energy (NASDAQ:ENPH) Price Target Increased to $116.00 by Analysts at Oppenheimer

Enphase Energy (NASDAQ:ENPH) had its target price raised by Oppenheimer from $77.00 to $116.00 in a research report sent to investors on Wednesday morning, The Fly reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

A number of other equities research analysts have also commented on ENPH. Barclays raised their price target on Enphase Energy from $90.00 to $127.00 and gave the stock an overweight rating in a research report on Wednesday. BidaskClub raised Enphase Energy from a buy rating to a strong-buy rating in a research report on Thursday, October 1st. 140166 assumed coverage on Enphase Energy in a research report on Thursday, October 15th. They set a positive rating and a $130.00 price target on the stock. JMP Securities assumed coverage on Enphase Energy in a research report on Friday, July 24th. They set a market perform rating on the stock. Finally, Bank of America assumed coverage on Enphase Energy in a research report on Thursday, October 1st. They set a buy rating and a $93.00 price target on the stock. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Enphase Energy currently has an average rating of Buy and an average price target of $94.38.

Shares of ENPH opened at $102.81 on Wednesday. The company has a current ratio of 3.39, a quick ratio of 3.25 and a debt-to-equity ratio of 0.68. Enphase Energy has a 1 year low of $17.18 and a 1 year high of $118.94. The stock has a market cap of $12.95 billion, a P/E ratio of 83.59, a price-to-earnings-growth ratio of 4.20 and a beta of 0.95. The stock’s 50-day moving average price is $88.70 and its two-hundred day moving average price is $64.33.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 27th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.16. Enphase Energy had a return on equity of 34.22% and a net margin of 23.49%. As a group, equities analysts forecast that Enphase Energy will post 0.95 EPS for the current year.

In other Enphase Energy news, COO Jeff Mcneil sold 7,606 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $59.75, for a total value of $454,458.50. In the last three months, insiders sold 22,606 shares of company stock worth $1,692,784. 7.10% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Emerald Advisers LLC bought a new position in Enphase Energy in the third quarter valued at approximately $213,000. New Mexico Educational Retirement Board grew its stake in Enphase Energy by 37.8% in the third quarter. New Mexico Educational Retirement Board now owns 25,900 shares of the semiconductor company’s stock valued at $2,139,000 after purchasing an additional 7,100 shares in the last quarter. Soltis Investment Advisors LLC bought a new position in Enphase Energy in the third quarter valued at approximately $207,000. Reynders McVeigh Capital Management LLC bought a new position in Enphase Energy in the third quarter valued at approximately $1,255,000. Finally, XR Securities LLC bought a new position in Enphase Energy in the third quarter valued at approximately $458,000. Hedge funds and other institutional investors own 68.15% 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 services.

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