Enphase Energy, Inc. (NASDAQ:ENPH) Receives Consensus Rating of “Hold” from Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH) has been assigned an average rating of “Hold” from the thirty ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $128.53.

A number of brokerages have recently weighed in on ENPH. HSBC upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research note on Monday, June 10th. Canaccord Genuity Group reduced their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $126.00 to $121.00 in a research note on Friday, April 5th. Guggenheim upped their target price on shares of Enphase Energy from $92.00 to $93.00 and gave the company a “sell” rating in a research note on Wednesday. Finally, DZ Bank assumed coverage on shares of Enphase Energy in a research note on Wednesday, April 17th. They set a “hold” rating and a $116.00 target price for the company.

Insider Buying and Selling

In related news, CFO Mandy Yang acquired 4,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $104.24 per share, with a total value of $416,960.00. Following the acquisition, the chief financial officer now directly owns 62,973 shares in the company, valued at $6,564,305.52. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Thurman J. Rodgers sold 319,526 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total value of $40,429,624.78. Following the transaction, the director now owns 1,984,562 shares of the company’s stock, valued at approximately $251,106,629.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mandy Yang bought 4,000 shares of Enphase Energy stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $104.24 per share, for a total transaction of $416,960.00. Following the purchase, the chief financial officer now directly owns 62,973 shares in the company, valued at approximately $6,564,305.52. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ENPH. AustralianSuper Pty Ltd acquired a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $566,000. CVA Family Office LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $31,000. Connective Portfolio Management LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $661,000. Assenagon Asset Management S.A. raised its holdings in shares of Enphase Energy by 348.6% in 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 during the last quarter. Finally, Northcape Capital Pty Ltd raised its holdings in shares of Enphase Energy by 86.5% in the fourth quarter. Northcape Capital Pty Ltd now owns 14,294 shares of the semiconductor company’s stock valued at $1,889,000 after purchasing an additional 6,631 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Price Performance

NASDAQ ENPH opened at $119.34 on Tuesday. The company has a quick ratio of 3.78, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $16.24 billion, a PE ratio of 62.16, a price-to-earnings-growth ratio of 5.73 and a beta of 1.71. The company has a 50 day moving average price of $115.31 and a two-hundred day moving average price of $115.32. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $175.59.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. During the same quarter last year, the firm earned $1.16 earnings per share. Enphase Energy’s revenue was down 57.3% compared to the same quarter last year. As a group, equities analysts predict that Enphase Energy will post 1.29 earnings per share for the current fiscal year.

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.