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

Enphase Energy (NASDAQ:ENPH) had its price target hoisted by stock analysts at Oppenheimer from $133.00 to $134.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price target indicates a potential upside of 24.27% from the company’s current price.

A number of other research analysts have also recently commented on the company. Citigroup cut Enphase Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $126.00 to $121.00 in a research report on Friday, April 5th. TD Cowen raised their price target on Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna restated a “positive” rating and issued a $140.00 price target on shares of Enphase Energy in a research report on Friday, April 5th. Barclays boosted their price target on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. Finally, Wells Fargo & Company raised Enphase Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $98.00 to $141.00 in a research note on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $141.00.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $107.83 on Wednesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $118.79 and a 200 day simple moving average of $111.93. The stock has a market capitalization of $14.66 billion, a PE ratio of 56.16, a P/E/G ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last announced 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 31.34% and a net margin of 15.10%. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. On average, research analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC raised its holdings in shares of Enphase Energy by 50.9% in the 1st quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 144 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Enphase Energy by 14.3% during the 1st 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. V Square Quantitative Management LLC increased its position in shares of Enphase Energy by 24.9% during the 1st quarter. V Square Quantitative Management LLC now owns 2,008 shares of the semiconductor company’s stock valued at $243,000 after purchasing an additional 400 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Enphase Energy by 47.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,215 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 390 shares during the last quarter. Finally, TriaGen Wealth Management LLC grew its position in Enphase Energy by 4.0% during the 1st quarter. TriaGen Wealth Management LLC now owns 6,293 shares of the semiconductor company’s stock worth $761,000 after acquiring an additional 241 shares during the last quarter. Hedge funds and other 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.