Enphase Energy (NASDAQ:ENPH) Price Target Increased to $89.00 by Analysts at Credit Suisse Group

Enphase Energy (NASDAQ:ENPH) had its price target boosted by Credit Suisse Group from $60.00 to $89.00 in a research report released on Monday, AnalystRatings.net reports. The firm currently has a neutral rating on the semiconductor company’s stock.

ENPH has been the subject of a number of other reports. BidaskClub upgraded shares of Enphase Energy from a buy rating to a strong-buy rating in a report on Thursday, October 1st. Craig Hallum raised their price target on shares of Enphase Energy from $54.00 to $85.00 and gave the stock a buy rating in a report on Wednesday, August 5th. Barclays raised their price target on shares of Enphase Energy from $80.00 to $90.00 in a report on Wednesday, August 5th. Oppenheimer initiated coverage on shares of Enphase Energy in a report on Tuesday, August 11th. They issued a buy rating and a $77.00 price target for the company. Finally, Zacks Investment Research raised shares of Enphase Energy from a hold rating to a buy rating and set a $52.00 price objective on the stock in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $94.38.

ENPH opened at $102.81 on Monday. Enphase Energy has a twelve month low of $17.18 and a twelve month high of $118.94. The company has a quick ratio of 3.25, a current ratio of 3.39 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $88.70 and a 200-day moving average of $64.33. The stock has a market cap of $12.95 billion, a PE ratio of 83.59, a price-to-earnings-growth ratio of 4.20 and a beta of 0.95.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 27th. The semiconductor company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.16. Enphase Energy had a net margin of 23.49% and a return on equity of 34.22%. Sell-side analysts anticipate that Enphase Energy will post 0.95 EPS for the current fiscal year.

In other Enphase Energy news, COO Jeff Mcneil sold 7,500 shares of Enphase Energy stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $86.50, for a total value of $648,750.00. Following the sale, the chief operating officer now owns 256,103 shares of the company’s stock, valued at $22,152,909.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 22,606 shares of company stock worth $1,692,784 over the last three months. 7.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in ENPH. Assetmark Inc. bought a new stake in Enphase Energy in the second quarter worth about $25,000. Captrust Financial Advisors bought a new stake in Enphase Energy in the second quarter worth about $37,000. Parallel Advisors LLC bought a new stake in Enphase Energy in the third quarter worth about $38,000. Optimum Investment Advisors purchased a new position in shares of Enphase Energy in the third quarter worth about $41,000. Finally, IFP Advisors Inc increased its stake in shares of Enphase Energy by 282.4% in the second quarter. IFP Advisors Inc now owns 937 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 692 shares in the last quarter. 68.15% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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