Oppenheimer Boosts Enphase Energy (NASDAQ:ENPH) Price Target to $134.00

Enphase Energy (NASDAQ:ENPH) had its price objective lifted by Oppenheimer from $133.00 to $134.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

ENPH has been the topic of several other research reports. Roth Mkm reaffirmed a buy rating and issued a $140.00 target price on shares of Enphase Energy in a report on Thursday, April 18th. Guggenheim cut shares of Enphase Energy from a neutral rating to a sell rating and set a $92.00 price objective on the stock. in a research note on Wednesday. Truist Financial cut their target price on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research note on Tuesday, April 23rd. B. Riley increased their price target on Enphase Energy from $121.00 to $149.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Finally, Mizuho dropped their price target on Enphase Energy from $150.00 to $148.00 and set a buy rating for the company in a report on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $137.41.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $111.93 on Wednesday. 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 firm has a 50-day moving average price of $117.82 and a 200 day moving average price of $111.85. The firm has a market capitalization of $15.23 billion, a PE ratio of 58.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.47. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $192.22.

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

Insiders Place Their Bets

In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost 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 disclosure for this purchase can be found here. Over the last three months, insiders have sold 54,285 shares of company stock worth $6,148,228. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in ENPH. Pinnacle Associates Ltd. increased its holdings in Enphase Energy by 25.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 2,510 shares of the semiconductor company’s stock worth $304,000 after purchasing an additional 515 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in Enphase Energy in the 1st quarter valued at approximately $35,000. Clear Creek Financial Management LLC acquired a new position in Enphase Energy during the 1st quarter worth approximately $225,000. Lindbrook Capital LLC grew its stake in shares of Enphase Energy by 50.9% during the 1st quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 144 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Enphase Energy by 14.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,570 shares of the semiconductor company’s stock valued at $3,577,000 after purchasing an additional 3,700 shares during 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.