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

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

Several other equities analysts also recently issued reports on ENPH. TD Cowen upped their price objective on shares of Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. increased their target price on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an overweight rating in a research note on Tuesday, July 16th. Jefferies Financial Group downgraded shares of Enphase Energy from a buy rating to a hold rating and decreased their target price for the stock from $135.00 to $111.00 in a research note on Wednesday, April 24th. Glj Research began coverage on shares of Enphase Energy in a research note on Tuesday, June 25th. They set a sell rating and a $45.82 target price for the company. Finally, Barclays decreased their target price on shares of Enphase Energy from $134.00 to $131.00 and set an overweight rating for the company in a research note on Friday, July 12th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of Hold and an average target price of $129.70.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $119.34 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.78. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $175.59. The company has a market capitalization of $16.24 billion, a PE ratio of 62.16, a P/E/G ratio of 5.73 and a beta of 1.71. The company has a fifty day moving average of $115.31 and a two-hundred day moving average of $115.32.

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

Insider Transactions at Enphase Energy

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

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Enphase Energy by 3.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,133 shares of the semiconductor company’s stock valued at $1,110,000 after acquiring an additional 380 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Enphase Energy by 6.2% during the 2nd quarter. State of Michigan Retirement System now owns 39,515 shares of the semiconductor company’s stock valued at $3,940,000 after acquiring an additional 2,300 shares in the last quarter. Bailard Inc. lifted its holdings in shares of Enphase Energy by 12.5% during the 2nd quarter. Bailard Inc. now owns 8,189 shares of the semiconductor company’s stock valued at $817,000 after acquiring an additional 907 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Enphase Energy during the 2nd quarter valued at $54,000. Institutional investors and hedge funds 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.