Enphase Energy (NASDAQ:ENPH) Reaches New 1-Year High at $293.13

Enphase Energy, Inc. (NASDAQ:ENPH – Get Rating)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $293.13 and last traded at $281.98, with a volume of 24939 shares changing hands. The stock had previously closed at $292.26.

Analysts Set New Price Targets

ENPH has been the topic of several recent research reports. Cowen upped their price target on shares of Enphase Energy from $240.00 to $278.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. upped their price target on shares of Enphase Energy from $240.00 to $247.00 in a report on Wednesday, July 20th. Susquehanna Bancshares increased their target price on shares of Enphase Energy from $250.00 to $260.00 and gave the stock a “positive” rating in a research note on Wednesday, July 27th. B. Riley increased their target price on shares of Enphase Energy from $171.00 to $217.00 in a research note on Wednesday, July 27th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $290.00 target price (up from $244.00) on shares of Enphase Energy in a research note on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.70.

Enphase Energy Stock Performance

The company has a market cap of $40.07 billion, a price-to-earnings ratio of 206.87, a P/E/G ratio of 2.44 and a beta of 1.50. The company has a current ratio of 3.62, a quick ratio of 3.35 and a debt-to-equity ratio of 2.66. The stock’s fifty day simple moving average is $209.34 and its 200 day simple moving average is $180.21.

Enphase Energy (NASDAQ:ENPH – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The semiconductor company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. The company had revenue of $530.20 million during the quarter, compared to the consensus estimate of $506.57 million. Enphase Energy had a net margin of 11.71% and a return on equity of 56.60%. As a group, analysts anticipate that Enphase Energy, Inc. will post 2.81 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman sold 77,700 shares of the stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $196.42, for a total value of $15,261,834.00. Following the completion of the sale, the chief executive officer now owns 1,097,701 shares in the company, valued at approximately $215,610,430.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Badrinarayanan Kothandaraman sold 77,700 shares of the stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $196.42, for a total value of $15,261,834.00. Following the completion of the sale, the chief executive officer now owns 1,097,701 shares of the company’s stock, valued at approximately $215,610,430.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Mora sold 2,825 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $297.33, for a total transaction of $839,957.25. Following the completion of the sale, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $475,728. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,497 shares of company stock worth $41,130,902. Insiders own 4.80% of the company’s stock.

Institutional Trading of Enphase Energy

Several hedge funds have recently made changes to their positions in ENPH. Dupont Capital Management Corp purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $141,000. CWM LLC purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $42,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Enphase Energy by 26.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,798 shares of the semiconductor company’s stock worth $3,804,000 after purchasing an additional 4,381 shares during the period. Ieq Capital LLC boosted its position in shares of Enphase Energy by 6.4% during the 4th quarter. Ieq Capital LLC now owns 2,547 shares of the semiconductor company’s stock worth $466,000 after purchasing an additional 154 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Enphase Energy during the 4th quarter worth approximately $28,188,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Enphase Energy Company Profile

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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.