Enphase Energy (NASDAQ:ENPH) Given New $145.00 Price Target at TD Cowen

Enphase Energy (NASDAQ:ENPH) had its price objective raised by TD Cowen from $140.00 to $145.00 in a research note published on Wednesday, Marketbeat.com reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

ENPH has been the subject of several other research reports. Oppenheimer upgraded shares of Enphase Energy from a market perform rating to an outperform rating and set a $133.00 price target for the company in a report on Wednesday, February 7th. Guggenheim lowered shares of Enphase Energy from a neutral rating to a sell rating and set a $92.00 price target for the company. in a report on Wednesday. Wells Fargo & Company upgraded shares of Enphase Energy from an equal weight rating to an overweight rating and raised their price target for the stock from $98.00 to $141.00 in a report on Monday, January 8th. Mizuho lowered their price target on shares of Enphase Energy from $150.00 to $148.00 and set a buy rating for the company in a report on Friday, April 19th. Finally, Canaccord Genuity Group began coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They set a buy rating and a $142.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Enphase Energy has an average rating of Hold and a consensus target price of $141.00.

Enphase Energy Stock Down 5.6 %

Shares of NASDAQ ENPH opened at $107.17 on Wednesday. The company has a 50 day simple moving average of $119.28 and a 200 day simple moving average of $111.97. The firm has a market cap of $14.57 billion, a PE ratio of 55.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $228.36. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. On average, research analysts forecast that Enphase Energy will post 2.01 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction 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 sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. In the last three months, insiders have sold 34,285 shares of company stock worth $4,054,428. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently made changes to their positions in the business. Bogart Wealth LLC bought a new stake in shares of Enphase Energy during the 4th quarter worth $26,000. CVA Family Office LLC bought a new stake in shares of Enphase Energy during the 4th quarter worth $31,000. Parkside Financial Bank & Trust raised its stake in shares of Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 176 shares during the period. Covestor Ltd raised its stake in Enphase Energy by 61.6% in the 3rd 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 period. Finally, Addison Advisors LLC raised its stake in Enphase Energy by 1,447.6% in the 4th 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 period. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Company Profile

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.