Enphase Energy (NASDAQ:ENPH) Price Target Raised to $62.00 at Northland Securities

Enphase Energy (NASDAQ:ENPH) had its price objective raised by Northland Securities from $52.00 to $62.00 in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the stock. Barclays raised their target price on shares of Enphase Energy from $29.00 to $33.00 and gave the company an “underweight” rating in a research note on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of Enphase Energy from $28.00 to $26.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Zacks Research lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Oppenheimer set a $67.00 target price on Enphase Energy and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and set a $31.00 price target on shares of Enphase Energy in a research note on Wednesday, October 29th. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and thirteen have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $40.57.

Enphase Energy Stock Up 0.4%

Shares of Enphase Energy stock opened at $33.13 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.88. Enphase Energy has a 1-year low of $25.77 and a 1-year high of $76.90. The business’s fifty day moving average price is $31.14 and its two-hundred day moving average price is $35.19. The company has a market capitalization of $4.34 billion, a P/E ratio of 22.85 and a beta of 1.43.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 28th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.30. Enphase Energy had a return on equity of 25.67% and a net margin of 12.93%.The company had revenue of $410.43 million during the quarter, compared to analysts’ expectations of $364.64 million. During the same quarter in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Enphase Energy will post 2.08 EPS for the current year.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $30.69 per share, for a total transaction of $153,450.00. Following the transaction, the chief executive officer directly owned 1,635,632 shares of the company’s stock, valued at $50,197,546.08. This trade represents a 0.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 150,000 shares of Enphase Energy stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $29.13, for a total value of $4,369,500.00. Following the completion of the transaction, the director directly owned 1,733,596 shares in the company, valued at $50,499,651.48. This represents a 7.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ENPH. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 514 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Enphase Energy by 761.0% in the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 761 shares in the last quarter. Stance Capital LLC acquired a new stake in shares of Enphase Energy in the third quarter worth $32,000. Geneos Wealth Management Inc. grew its holdings in shares of Enphase Energy by 199.7% during the third quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 613 shares in the last quarter. Finally, Danske Bank A S acquired a new position in Enphase Energy during the third quarter valued at $39,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.