Oppenheimer Raises Enphase Energy (NASDAQ:ENPH) Price Target to $134.00

Enphase Energy (NASDAQ:ENPH) had its price target raised by Oppenheimer from $133.00 to $134.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Other research analysts also recently issued reports about the company. Guggenheim downgraded Enphase Energy from a neutral rating to a sell rating and set a $92.00 price objective for the company. in a report on Wednesday. Citigroup downgraded Enphase Energy from a buy rating to a neutral rating and decreased their price objective for the stock from $126.00 to $121.00 in a report on Friday, April 5th. TD Cowen increased their price objective on Enphase Energy from $140.00 to $145.00 and gave the stock a buy rating in a report on Wednesday. BMO Capital Markets raised their price target on Enphase Energy from $106.00 to $110.00 and gave the company a market perform rating in a research note on Wednesday, February 7th. Finally, B. Riley raised their price target on Enphase Energy from $121.00 to $149.00 and gave the company a buy rating in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $137.41.

Enphase Energy Stock Up 3.8 %

Shares of Enphase Energy stock opened at $111.93 on Wednesday. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $192.22. The business has a 50-day moving average of $118.22 and a two-hundred day moving average of $111.90. The company has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19.

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. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. As a group, equities analysts predict that Enphase Energy will post 1.96 EPS for the current year.

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the sale, the director now directly owns 118,360 shares of the company’s stock, valued at approximately $12,391,108.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were bought at an average price 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 disclosure for this purchase can be found here. In the last ninety days, insiders sold 54,285 shares of company stock valued at $6,148,228. 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 modified their holdings of ENPH. Bogart Wealth LLC bought a new position in shares of Enphase Energy in the 4th quarter valued at $26,000. CVA Family Office LLC bought a new position in shares of Enphase Energy in the 4th quarter valued at $31,000. YHB Investment Advisors Inc. bought a new position in shares of Enphase Energy in the 1st quarter valued at $35,000. Parkside Financial Bank & Trust increased its stake in shares of Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 176 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of 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 purchasing an additional 133 shares during the last quarter. Institutional investors 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.