Oppenheimer Increases Enphase Energy (NASDAQ:ENPH) Price Target to $307.00

Enphase Energy (NASDAQ:ENPHGet Rating) had its price target boosted by research analysts at Oppenheimer from $290.00 to $307.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Oppenheimer’s price objective indicates a potential upside of 99.57% from the company’s previous close.

A number of other equities analysts have also commented on the company. Truist Financial cut their price objective on Enphase Energy from $290.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, January 24th. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $290.00 to $246.00 in a research note on Thursday, January 20th. Guggenheim raised Enphase Energy from a “neutral” rating to a “buy” rating and set a $213.00 price target on the stock in a research note on Thursday, January 13th. Needham & Company LLC dropped their price target on Enphase Energy from $294.00 to $255.00 in a research note on Thursday, February 3rd. Finally, Citigroup dropped their price target on Enphase Energy from $255.00 to $205.00 in a research note on Friday, January 28th. Seven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, Enphase Energy currently has a consensus rating of “Buy” and an average price target of $238.63.

Shares of ENPH stock opened at $153.83 on Wednesday. The business’s 50-day moving average price is $176.96 and its 200-day moving average price is $185.08. The company has a current ratio of 3.33, a quick ratio of 3.16 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $20.76 billion, a price-to-earnings ratio of 150.82 and a beta of 1.27. Enphase Energy has a 12 month low of $108.88 and a 12 month high of $282.46.

Enphase Energy (NASDAQ:ENPHGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The semiconductor company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.40. Enphase Energy had a return on equity of 39.09% and a net margin of 10.52%. During the same period last year, the company earned $0.48 EPS. On average, sell-side analysts predict that Enphase Energy will post 2.25 earnings per share for the current fiscal year.

In related news, Director Steven J. Gomo sold 31,609 shares of Enphase Energy stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $163.48, for a total value of $5,167,439.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman sold 37,500 shares of Enphase Energy stock in a transaction that occurred on Monday, March 28th. The stock was 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. In the last three months, insiders have sold 255,577 shares of company stock worth $43,780,910. Insiders own 5.00% of the company’s stock.

Large investors have recently bought and sold shares of the stock. AlphaCentric Advisors LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $27,000. American National Bank grew its stake in Enphase Energy by 80.5% in the 4th quarter. American National Bank now owns 148 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 66 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new position in Enphase Energy in the 4th quarter valued at approximately $27,000. Lindbrook Capital LLC grew its stake in Enphase Energy by 58.0% in the 1st quarter. Lindbrook Capital LLC now owns 158 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 58 shares in the last quarter. Finally, Horan Securities Inc. purchased a new position in Enphase Energy in the 4th quarter valued at approximately $29,000. 70.39% of the stock is currently owned by institutional investors.

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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