Enphase Energy (NASDAQ:ENPH) Upgraded to Overweight by Barclays

Enphase Energy (NASDAQ:ENPH) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat reports. The firm currently has a $134.00 price objective on the semiconductor company’s stock, up from their previous price objective of $115.00. Barclays‘s price target would indicate a potential upside of 24.27% from the stock’s current price.

Several other research firms have also weighed in on ENPH. KeyCorp reissued a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. TD Cowen raised their price objective on Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company reduced their price objective on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday. Craig Hallum reduced their price objective on Enphase Energy from $159.00 to $147.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, B. Riley increased their target price on Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $141.58.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $107.83 on Friday. The stock has a fifty day moving average price of $118.79 and a two-hundred day moving average price of $111.93. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16. The firm has a market cap of $14.67 billion, a P/E ratio of 56.16, a PEG ratio of 3.16 and a beta of 1.47. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share 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 analyst estimates of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. Research analysts forecast that Enphase Energy will post 1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold 34,285 shares of company stock worth $4,054,428 over the last three months. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently bought and sold shares of ENPH. Vanguard Group Inc. increased its stake in Enphase Energy by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after purchasing an additional 192,854 shares in the last quarter. Baillie Gifford & Co. increased its stake in Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after purchasing an additional 4,078,723 shares in the last quarter. Northern Trust Corp increased its stake in Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after purchasing an additional 3,940 shares in the last quarter. Norges Bank bought a new stake in Enphase Energy in the fourth quarter valued at $149,425,000. Finally, Schroder Investment Management Group increased its stake in Enphase Energy by 3.3% in the third quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock valued at $135,080,000 after purchasing an additional 35,681 shares in the last quarter. Institutional investors and hedge funds own 72.12% 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.