Enphase Energy, Inc. (NASDAQ:ENPH) Given Consensus Rating of “Buy” by Analysts

Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) has earned an average rating of “Buy” from the thirty analysts that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $245.16.

Several research firms have commented on ENPH. KeyCorp increased their target price on shares of Enphase Energy from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, April 7th. Stephens began coverage on shares of Enphase Energy in a research note on Wednesday, April 13th. They issued an “overweight” rating and a $280.00 target price for the company. Wells Fargo & Company cut their price target on shares of Enphase Energy from $313.00 to $255.00 and set an “overweight” rating for the company in a research note on Tuesday, February 8th. Piper Sandler lifted their price objective on Enphase Energy from $227.00 to $237.00 in a research report on Monday, March 14th. Finally, Truist Financial dropped their target price on Enphase Energy from $290.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, January 24th.

Shares of NASDAQ:ENPH opened at $195.60 on Wednesday. Enphase Energy has a one year low of $108.88 and a one year high of $282.46. The stock has a fifty day moving average of $175.34 and a 200-day moving average of $184.70. The company has a market capitalization of $26.40 billion, a PE ratio of 191.77 and a beta of 1.27. The company has a debt-to-equity ratio of 2.21, a quick ratio of 3.16 and a current ratio of 3.33.

Enphase Energy (NASDAQ:ENPHGet Rating) last announced its earnings results on Tuesday, February 8th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.18. Enphase Energy had a net margin of 10.52% and a return on equity of 39.09%. The company had revenue of $412.72 million for the quarter, compared to the consensus estimate of $399.62 million. During the same period in the previous year, the business earned $0.47 EPS. The company’s revenue was up 55.8% on a year-over-year basis. As a group, research analysts forecast that Enphase Energy will post 2.2 EPS for the current fiscal year.

In other news, Director Joseph Ian Malchow sold 4,460 shares of the business’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $156.05, for a total transaction of $695,983.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman sold 37,500 shares of the business’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $200.01, for a total transaction of $7,500,375.00. The disclosure for this sale can be found here. Insiders have sold a total of 255,577 shares of company stock valued at $43,780,910 in the last quarter. Company insiders own 5.00% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in shares of Enphase Energy by 30.4% during the third quarter. Signaturefd LLC now owns 600 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 140 shares during the last quarter. M&T Bank Corp grew its holdings in Enphase Energy by 10.0% in the third quarter. M&T Bank Corp now owns 4,428 shares of the semiconductor company’s stock worth $663,000 after purchasing an additional 402 shares during the period. Sigma Planning Corp grew its holdings in Enphase Energy by 5.0% in the third quarter. Sigma Planning Corp now owns 2,520 shares of the semiconductor company’s stock worth $378,000 after purchasing an additional 121 shares during the period. Landsberg Bennett & Dubbaneh LLC purchased a new stake in Enphase Energy in the third quarter worth about $365,000. Finally, Whittier Trust Co. grew its holdings in Enphase Energy by 62.7% in the third quarter. Whittier Trust Co. now owns 1,432 shares of the semiconductor company’s stock worth $215,000 after purchasing an additional 552 shares during the period. Institutional investors own 70.39% of the company’s stock.

About Enphase Energy (Get Rating)

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 services.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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