TD Cowen Raises Enphase Energy (NASDAQ:ENPH) Price Target to $145.00

Enphase Energy (NASDAQ:ENPH) had its price objective upped by TD Cowen from $140.00 to $145.00 in a research note released on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts also recently commented on the company. Wells Fargo & Company upgraded Enphase Energy from an equal weight rating to an overweight rating and increased their target price for the company from $98.00 to $141.00 in a research report on Monday, January 8th. Canaccord Genuity Group initiated coverage on Enphase Energy in a research report on Tuesday, January 16th. They set a buy rating and a $142.00 target price for the company. Morgan Stanley raised their price target on Enphase Energy from $97.00 to $106.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Mizuho lowered their price target on Enphase Energy from $150.00 to $148.00 and set a buy rating for the company in a research report on Friday, April 19th. Finally, Oppenheimer upgraded Enphase Energy from a market perform rating to an outperform rating and set a $133.00 price target for the company in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $137.41.

Enphase Energy Trading Up 3.8 %

ENPH stock opened at $111.93 on Wednesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.17 and a beta of 1.47. The business has a 50 day simple moving average of $117.82 and a two-hundred day simple moving average of $111.85.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share 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 EPS for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a filing with the SEC, which is available 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, 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 disclosure for this purchase can be found here. Insiders have sold 54,285 shares of company stock worth $6,148,228 over the last quarter. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors have recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. boosted its holdings in Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after acquiring an additional 4,078,723 shares in the last quarter. Norges Bank acquired a new stake in shares of Enphase Energy during the fourth quarter worth about $149,425,000. Nordea Investment Management AB lifted its holdings in shares of Enphase Energy by 158.8% during the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Enphase Energy during the fourth quarter worth about $41,068,000. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Enphase Energy by 3,396.9% during the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after purchasing an additional 255,175 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.