Enphase Energy (NASDAQ:ENPH) Given New $134.00 Price Target at Oppenheimer

Enphase Energy (NASDAQ:ENPH) had its target price upped by investment analysts at Oppenheimer from $133.00 to $134.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective points to a potential upside of 18.08% from the stock’s current price.

Several other equities research analysts have also issued reports on ENPH. Morgan Stanley raised their target price on Enphase Energy from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Piper Sandler decreased their target price on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a research report on Friday, January 12th. Mizuho decreased their target price 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. DZ Bank initiated coverage on Enphase Energy in a research report on Wednesday, April 17th. They set a “hold” rating and a $116.00 target price for the company. Finally, Truist Financial decreased their target price on Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $142.18.

Enphase Energy Price Performance

Enphase Energy stock opened at $113.48 on Wednesday. The stock has a market capitalization of $15.43 billion, a price-to-earnings ratio of 37.09, a PEG ratio of 3.16 and a beta of 1.47. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $228.36. The stock’s 50 day moving average price is $119.28 and its two-hundred day moving average price is $111.97. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. On average, equities analysts predict that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought 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 in the company, valued at approximately $199,514,312.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now directly 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 90 days, insiders sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enphase Energy

A number of large investors have recently bought and sold shares of ENPH. CWM LLC increased its stake in Enphase Energy by 6.3% in the 3rd quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock worth $485,000 after purchasing an additional 239 shares during the period. AE Wealth Management LLC increased its stake in Enphase Energy by 24.3% in the 3rd quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock worth $1,795,000 after purchasing an additional 2,921 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of Enphase Energy by 108.3% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock worth $75,000 after buying an additional 325 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Enphase Energy by 155.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock worth $162,000 after buying an additional 820 shares during the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Enphase Energy in the 3rd quarter worth approximately $259,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.