Guggenheim Raises Enphase Energy (NASDAQ:ENPH) Price Target to $93.00

Enphase Energy (NASDAQ:ENPH) had its price target boosted by Guggenheim from $92.00 to $93.00 in a research note released on Wednesday, Benzinga reports. Guggenheim currently has a sell rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on the company. Truist Financial reduced their price objective on Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research report on Tuesday, April 23rd. Canaccord Genuity Group raised their price target on shares of Enphase Energy from $130.00 to $150.00 and gave the stock a buy rating in a research note on Friday, May 31st. DZ Bank initiated coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They issued a hold rating and a $116.00 price objective on the stock. Glj Research assumed coverage on shares of Enphase Energy in a research report on Tuesday, June 25th. They issued a sell rating and a $45.82 target price for the company. Finally, HSBC upgraded shares of Enphase Energy from a hold rating to a buy rating and set a $166.00 price target on the stock in a research note on Monday, June 10th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy currently has an average rating of Hold and an average target price of $129.70.

Enphase Energy Price Performance

NASDAQ ENPH opened at $119.34 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.78 and a current ratio of 4.23. The stock has a market cap of $16.16 billion, a price-to-earnings ratio of 62.16, a PEG ratio of 5.40 and a beta of 1.71. The business has a 50 day simple moving average of $115.21 and a 200 day simple moving average of $115.31. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $175.59.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company’s revenue was down 57.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. Analysts anticipate that Enphase Energy will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the transaction, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the transaction, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the sale, the director now owns 1,984,562 shares of the company’s stock, valued at $251,106,629.86. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in Enphase Energy during the fourth quarter worth about $206,000. Assenagon Asset Management S.A. raised its position in Enphase Energy by 348.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after purchasing an additional 173,628 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Enphase Energy during the fourth quarter worth $41,068,000. Northern Trust Corp boosted its holdings in shares of Enphase Energy by 0.3% in the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after purchasing an additional 3,940 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Enphase Energy by 364.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after purchasing an additional 85,284 shares during the last quarter. Institutional investors 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.