Enphase Energy (NASDAQ:ENPH) PT Set at $40.00 by Northland Securities

Northland Securities set a $40.00 price objective on Enphase Energy (NASDAQ:ENPH) in a research report report published on Wednesday morning, TipRanks reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other research analysts also recently issued research reports about the stock. Craig Hallum set a $31.00 price target on shares of Enphase Energy and gave the stock a buy rating in a research note on Wednesday, July 31st. B. Riley reaffirmed a buy rating and issued a $21.00 price target on shares of Enphase Energy in a research note on Wednesday, June 12th. HC Wainwright raised shares of Enphase Energy from a neutral rating to a buy rating and set a $36.00 price target on the stock in a research note on Wednesday, July 31st. Roth Capital raised their price target on shares of Enphase Energy from $17.00 to $23.00 and gave the stock a buy rating in a research note on Monday, July 29th. Finally, Zacks Investment Research downgraded shares of Enphase Energy from a buy rating to a hold rating and set a $26.00 price target on the stock. in a research note on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $33.95.

Shares of ENPH opened at $24.28 on Wednesday. Enphase Energy has a twelve month low of $4.06 and a twelve month high of $35.42. The company has a market cap of $2.99 billion, a P/E ratio of -202.33 and a beta of 0.85. The company has a current ratio of 2.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $26.19 and its 200-day simple moving average is $19.53.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.09. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The business had revenue of $134.09 million for the quarter, compared to the consensus estimate of $120.36 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The business’s revenue for the quarter was up 76.7% on a year-over-year basis. Analysts predict that Enphase Energy will post 0.55 earnings per share for the current fiscal year.

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $23.72, for a total transaction of $237,200.00. Following the transaction, the chief executive officer now owns 513,300 shares of the company’s stock, valued at approximately $12,175,476. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeff Mcneil sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $24.03, for a total transaction of $180,225.00. Following the transaction, the chief operating officer now directly owns 312,738 shares in the company, valued at approximately $7,515,094.14. The disclosure for this sale can be found here. Insiders sold a total of 125,000 shares of company stock worth $3,592,325 in the last ninety days. 12.46% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Enphase Energy by 16.2% during the 2nd quarter. BlackRock Inc. now owns 6,678,030 shares of the semiconductor company’s stock valued at $121,742,000 after purchasing an additional 930,501 shares during the period. Vanguard Group Inc. increased its position in Enphase Energy by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,274,251 shares of the semiconductor company’s stock valued at $96,149,000 after purchasing an additional 544,989 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in Enphase Energy by 30.5% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 4,514,342 shares of the semiconductor company’s stock valued at $41,667,000 after purchasing an additional 1,053,833 shares during the period. Invesco Ltd. increased its position in Enphase Energy by 2.5% during the 2nd quarter. Invesco Ltd. now owns 2,266,030 shares of the semiconductor company’s stock valued at $41,310,000 after purchasing an additional 56,335 shares during the period. Finally, Renaissance Technologies LLC increased its position in Enphase Energy by 387.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,270,628 shares of the semiconductor company’s stock valued at $23,164,000 after purchasing an additional 1,010,100 shares during the period. 43.36% of the stock is currently owned by institutional investors and hedge funds.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

See Also: P/E Growth (PEG)

Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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