Enphase Energy (NASDAQ:ENPH) Earns “Buy” Rating from Roth Mkm

Enphase Energy (NASDAQ:ENPH)‘s stock had its “buy” rating restated by Roth Mkm in a research report issued on Wednesday, Benzinga reports. They currently have a $140.00 target price on the semiconductor company’s stock. Roth Mkm’s target price indicates a potential upside of 28.59% from the company’s current price.

Several other analysts also recently commented on ENPH. Morgan Stanley increased their target price on shares of Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. DZ Bank started coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They set a “hold” rating and a $116.00 target price on the stock. Truist Financial reduced their target price on Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank of Canada initiated coverage on Enphase Energy in a report on Wednesday, February 14th. They set an “outperform” rating and a $140.00 price target on the stock. Finally, Canaccord Genuity Group began coverage on Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective for the company. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and an average price target of $141.82.

Enphase Energy Stock Performance

Shares of ENPH opened at $108.87 on Wednesday. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The stock has a 50 day moving average price of $119.28 and a two-hundred day moving average price of $111.97. The firm has a market capitalization of $14.81 billion, a P/E ratio of 35.58, a P/E/G ratio of 3.16 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Equities analysts forecast that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock worth $4,054,428 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bogart Wealth LLC bought a new position in Enphase Energy during the fourth quarter valued at approximately $26,000. CVA Family Office LLC bought a new position in Enphase Energy during the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust grew its position in Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares during the last quarter. Covestor Ltd grew its position in Enphase Energy by 61.6% during the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares during the last quarter. Finally, Addison Advisors LLC grew its position in Enphase Energy by 1,447.6% during the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 304 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.