Roth Mkm Reaffirms “Buy” Rating for Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH)‘s stock had its “buy” rating reiterated by equities research analysts at Roth Mkm in a report issued on Thursday, Benzinga reports. They currently have a $140.00 price objective on the semiconductor company’s stock. Roth Mkm’s target price would suggest a potential upside of 27.97% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Piper Sandler dropped their target price on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a report on Friday, January 12th. BMO Capital Markets upped their price objective on shares of Enphase Energy from $106.00 to $110.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Susquehanna reissued a “positive” rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $126.00 to $121.00 in a report on Friday, April 5th. Finally, DZ Bank began coverage on shares of Enphase Energy in a report on Wednesday. They issued a “hold” rating and a $116.00 price objective for the company. Two equities 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $149.94.

Enphase Energy Stock Down 2.4 %

Shares of Enphase Energy stock traded down $2.65 on Thursday, reaching $109.40. The stock had a trading volume of 675,084 shares, compared to its average volume of 4,036,511. The company has a 50 day moving average price of $120.33 and a 200 day moving average price of $112.19. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $228.50. The stock has a market capitalization of $14.88 billion, a P/E ratio of 35.75, a P/E/G ratio of 3.06 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its 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. The firm had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. As a group, equities research analysts forecast that Enphase Energy will post 2.09 EPS for the current year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. 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 stock was purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy 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 disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock valued at $4,054,428 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Enphase Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legato Capital Management LLC purchased a new stake in Enphase Energy during the 4th quarter worth about $1,542,000. Assenagon Asset Management S.A. grew its holdings in Enphase Energy by 348.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after buying an additional 173,628 shares during the period. AustralianSuper Pty Ltd purchased a new stake in Enphase Energy in the 4th quarter valued at about $566,000. Glenmede Trust Co. NA grew its holdings in Enphase Energy by 92.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock valued at $380,000 after buying an additional 1,521 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Enphase Energy by 8.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock valued at $17,013,000 after buying an additional 10,729 shares during the period. 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.