Roth Mkm Reaffirms “Buy” Rating for Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH)‘s stock had its “buy” rating reiterated by analysts at Roth Mkm in a note issued to investors on Thursday, Benzinga reports. They currently have a $140.00 price target on the semiconductor company’s stock. Roth Mkm’s target price suggests a potential upside of 31.48% from the stock’s current price.

Several other equities analysts also recently commented on the company. Canaccord Genuity Group assumed coverage on Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective on the stock. Barclays boosted their price objective on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Oppenheimer upgraded Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price objective on the stock in a research report on Wednesday, February 7th. Susquehanna restated a “positive” rating and issued a $140.00 price objective on shares of Enphase Energy in a research report on Friday, April 5th. Finally, Citigroup downgraded Enphase Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $126.00 to $121.00 in a research report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $149.88.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $106.48 on Thursday. The stock has a 50-day simple moving average of $119.85 and a two-hundred day simple moving average of $112.10. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $228.36. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The firm has a market capitalization of $14.48 billion, a PE ratio of 34.80, a P/E/G ratio of 3.10 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Analysts forecast that Enphase Energy will post 2.09 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the transaction, the executive vice president now directly owns 119,948 shares in the company, valued at approximately $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock worth $4,054,428 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Resurgent Financial Advisors LLC bought a new position in Enphase Energy in the fourth quarter worth approximately $29,000. KB Financial Partners LLC bought a new position in Enphase Energy in the first quarter worth approximately $28,000. Coppell Advisory Solutions Corp. bought a new position in Enphase Energy in the fourth quarter worth approximately $42,000. First Capital Advisors Group LLC. bought a new position in Enphase Energy in the second quarter worth approximately $28,000. Finally, Bogart Wealth LLC bought a new position in Enphase Energy in the fourth quarter worth approximately $26,000. 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.