Enphase Energy’s (ENPH) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Enphase Energy (NASDAQ:ENPH) in a research note published on Wednesday, Benzinga reports. They currently have a $140.00 price objective on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on Enphase Energy from $124.00 to $130.00 and gave the stock an overweight rating in a research report on Tuesday, July 16th. Guggenheim upped their price target on Enphase Energy from $92.00 to $93.00 and gave the stock a sell rating in a research report on Wednesday. Royal Bank of Canada reduced their price target on Enphase Energy from $140.00 to $130.00 and set an outperform rating for the company in a research report on Wednesday, April 24th. TD Cowen upped their price target on Enphase Energy from $140.00 to $145.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group downgraded Enphase Energy from a buy rating to a hold rating and reduced their price target for the stock from $135.00 to $111.00 in a research report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $129.70.

Enphase Energy Trading Up 1.5 %

NASDAQ:ENPH opened at $119.34 on Wednesday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $175.59. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.78. The stock has a market capitalization of $16.16 billion, a PE ratio of 62.16, a price-to-earnings-growth ratio of 5.40 and a beta of 1.71. The business’s 50-day simple moving average is $115.21 and its 200-day simple moving average is $115.31.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. During the same quarter last year, the firm earned $1.16 EPS. The company’s revenue for the quarter was down 57.3% on a year-over-year basis. Sell-side analysts expect that Enphase Energy will post 1.31 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 stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total transaction of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Mandy Yang acquired 4,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $104.24 per share, for a total transaction of $416,960.00. Following the transaction, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Several large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Enphase Energy by 3.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,133 shares of the semiconductor company’s stock worth $1,110,000 after purchasing an additional 380 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of Enphase Energy by 6.2% during the 2nd quarter. State of Michigan Retirement System now owns 39,515 shares of the semiconductor company’s stock worth $3,940,000 after purchasing an additional 2,300 shares in the last quarter. Bailard Inc. grew its holdings in shares of Enphase Energy by 12.5% during the 2nd quarter. Bailard Inc. now owns 8,189 shares of the semiconductor company’s stock worth $817,000 after purchasing an additional 907 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of Enphase Energy during the 2nd quarter worth $54,000. 72.12% of the stock is owned by institutional investors and hedge funds.

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.