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Enphase Energy, Inc. (NASDAQ: ENPH) has received a consensus “Buy†rating from the thirty-three research companies that cover the business, reports Marketbeat Ratings. Nine equity research analysts rated the stock with a conservation rating and twenty-one issued a buy rating on the company. The twelve-month average price target among brokers who issued ratings on the stock in the past year is $ 192.60.
A number of equity research analysts recently commented on the stock. TheStreet downgraded Enphase Energy’s shares from a “c +†rating to a “b†rating in a report released on Tuesday, July 27. JPMorgan Chase & Co. raised its price target on Enphase Energy shares from $ 210.00 to $ 238.00 and assigned the company an “overweight” rating in a report released on Wednesday, July 21. Goldman Sachs Group raised its price target on Enphase Energy shares from $ 187.00 to $ 202.00 and gave the company a “buy” rating in a report released on Friday, July 2. They noted that the move was an appraisal call. Piper Sandler raised its price target on Enphase Energy shares from $ 195.00 to $ 202.00 and assigned the company an “overweight” rating in a research note on Thursday, July 15. Finally, Seaport Res Ptn reissued a “neutral” rating on Enphase Energy shares in a research note on Thursday, July 15.
In other news, the CEO Badrinarayanan Kothandaraman sold 30,000 shares of the company in a trade on Thursday, September 30. The shares were sold at an average price of $ 150.49, for a total value of $ 4,514,700.00. The transaction was disclosed in a file with the SEC, which can be accessed through the SEC website. Additionally, Executive Vice President David A. Ranhoff sold 28,031 shares of the company in a trade on Monday, July 12. The stock was sold at an average price of $ 183.87, for a total trade of $ 5,154,059.97. Following the closing of the transaction, the Executive Vice President now directly owns 199,957 shares of the company, valued at $ 36,766,093.59. Disclosure of this sale can be found here. In the past three months, insiders have sold 84,726 shares of the company valued at $ 14,301,967. 5.00% of the shares are held by insiders of the company.
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Several hedge funds and other institutional investors have recently bought and sold shares in the company. PNC Managed Account Solutions Inc. acquired a new position in Enphase Energy during the second quarter valued at $ 28,000. Laurel Wealth Advisors LLC increased its holdings in Enphase Energy by 1,000.0% during the second quarter. Laurel Wealth Advisors LLC now owns 165 shares of the semiconductor company valued at $ 30,000 after acquiring an additional 150 shares during the period. MV Capital Management Inc. purchased a new stake in Enphase Energy during the second quarter valued at approximately $ 40,000. Berman Capital Advisors LLC increased its stake in Enphase Energy by 271.0% in the second quarter. Berman Capital Advisors LLC now owns 230 shares of the semiconductor company valued at $ 42,000 after acquiring 168 more shares during the period. Finally, CSat Investment Advisory LP purchased a new stake in Enphase Energy during the first quarter for a value of approximately $ 38,000. 67.26% of the shares are currently held by institutional investors and hedge funds.
NASDAQ: ENPH opened at $ 155.36 on Friday. The company has a market cap of $ 20.91 billion, a price-to-earnings ratio of 121.38, a price-to-earnings-growth ratio of 3.38, and a beta of 1.16. The company has a fifty-day simple moving average of $ 169.73 and a two-hundred-day simple moving average of $ 159.14. Enphase Energy has a 52-week low of $ 85.16 and a 52-week high of $ 229.04. The company has a quick ratio of 4.57, a current ratio of 4.67, and a debt ratio of 1.59.
Enphase Energy (NASDAQ: ENPH) last released its quarterly earnings data on Tuesday, July 27. The semiconductor company reported earnings per share (EPS) of $ 0.53 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.42 of $ 0.11. Enphase Energy had a net margin of 17.28% and a return on equity of 42.16%. The company posted revenue of $ 316.06 million in the quarter, compared to analysts’ expectations of $ 311.23 million. During the same period of the previous year, the company achieved EPS of $ 0.17. The company’s revenue for the quarter increased 151.8% year-over-year. On average, analysts expect Enphase Energy to post EPS of 1.34 for the current year.
About Enphase Energy
Enphase Energy, Inc is engaged in the design, development, manufacture and sale of microinverter systems for the solar photovoltaic industry. Its products include IQ 7 Series of Microinverters, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy and Enlighten & Apps Accessories. The company was founded by Raghuveer R.
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