Enphase Energy (NASDAQ:ENPH – Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has a $141.00 price target on the semiconductor company’s stock, up from their prior price target of $98.00. Wells Fargo & Company‘s price target indicates a potential upside of 22.19% from the company’s current price.
A number of other brokerages have also issued reports on ENPH. Daiwa Capital Markets lowered Enphase Energy from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $145.00 to $100.00 in a research note on Tuesday, October 24th. Piper Sandler restated a “neutral” rating and issued a $75.00 target price (down previously from $150.00) on shares of Enphase Energy in a research note on Friday, October 27th. Roth Mkm restated a “buy” rating and issued a $100.00 target price on shares of Enphase Energy in a research note on Monday, November 20th. Citigroup reduced their target price on Enphase Energy from $170.00 to $167.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Finally, Truist Financial restated a “hold” rating and issued a $135.00 target price on shares of Enphase Energy in a research note on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $169.77.
View Our Latest Stock Report on Enphase Energy
Enphase Energy Stock Down 2.3 %
Shares of NASDAQ ENPH opened at $115.39 on Monday. The company has a current ratio of 3.36, a quick ratio of 3.13 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $15.76 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 2.35 and a beta of 1.62. The stock’s fifty day simple moving average is $105.42 and its two-hundred day simple moving average is $126.32. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $260.98.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.71 by $0.13. Enphase Energy had a return on equity of 63.06% and a net margin of 21.08%. The firm had revenue of $551.08 million during the quarter, compared to analyst estimates of $562.27 million. As a group, analysts expect that Enphase Energy will post 3.24 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Badrinarayanan Kothandaraman acquired 1,118 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average cost of $90.23 per share, for a total transaction of $100,877.14. Following the acquisition, the chief executive officer now owns 1,272,015 shares in the company, valued at approximately $114,773,913.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Enphase Energy by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 13,980,361 shares of the semiconductor company’s stock worth $2,820,957,000 after purchasing an additional 60,024 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Enphase Energy by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,999,370 shares of the semiconductor company’s stock valued at $501,061,000 after buying an additional 102,091 shares during the period. Northern Trust Corp raised its position in shares of Enphase Energy by 7.1% during the 3rd quarter. Northern Trust Corp now owns 1,360,627 shares of the semiconductor company’s stock valued at $163,479,000 after buying an additional 90,438 shares during the period. Norges Bank purchased a new stake in shares of Enphase Energy during the 4th quarter valued at approximately $325,230,000. Finally, Schroder Investment Management Group raised its position in shares of Enphase Energy by 3.3% during the 3rd quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock valued at $135,080,000 after buying an additional 35,681 shares during the period. 71.05% of the stock is currently owned by institutional investors and hedge funds.
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 services.
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