Barclays Upgrades Enphase Energy (NASDAQ:ENPH) to “Overweight”

Enphase Energy (NASDAQ:ENPH) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Friday, MarketBeat.com reports. The firm presently has a $134.00 price objective on the semiconductor company’s stock, up from their prior price objective of $115.00. Barclays‘s price target would suggest a potential upside of 19.72% from the company’s previous close.

Several other research firms have also recently weighed in on ENPH. Roth Mkm restated a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a research report on Wednesday. Canaccord Genuity Group lowered their price objective on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets lowered their price objective on shares of Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a research report on Wednesday. B. Riley raised their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, DZ Bank began coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They issued a “hold” rating and a $116.00 price objective for the company. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.41.

Enphase Energy Trading Up 3.8 %

Shares of Enphase Energy stock opened at $111.93 on Friday. The stock has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.47. The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The company has a 50-day simple moving average of $117.82 and a 200 day simple moving average of $111.85. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $192.22.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. Research analysts expect that Enphase Energy will post 1.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,285 shares of company stock valued at $6,148,228. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of Enphase Energy in the fourth quarter valued at about $206,000. Legato Capital Management LLC acquired a new stake in Enphase Energy during the fourth quarter worth about $1,542,000. Assenagon Asset Management S.A. grew its stake in Enphase Energy by 348.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after buying an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Enphase Energy during the fourth quarter worth about $566,000. Finally, Glenmede Trust Co. NA grew its stake in Enphase Energy by 92.7% during the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after buying an additional 1,521 shares in the last quarter. 72.12% of the stock is currently 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.