Enphase Energy, Inc. (NASDAQ:ENPH) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts are cautiously neutral on Enphase Energy, with 25 firms giving the stock an average rating of “Hold.” The consensus 12-month price target is about $46.57, though individual targets vary widely.
• Enphase reported better-than-expected quarterly earnings, posting $0.47 EPS versus the $0.43 estimate and revenue of $282.9 million, slightly above forecasts. However, revenue was still down 20.6% year over year.
• Recent insider and institutional activity was mixed: the CEO bought 5,000 shares while a director sold 700 shares, and institutional investors continue to hold a large stake in the company. Hedge funds and other institutions own 72.12% of Enphase Energy shares.

Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) has been assigned an average rating of "Hold" from the twenty-five ratings firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $46.5708.

Several research firms have recently weighed in on ENPH. Susquehanna lowered their price target on Enphase Energy from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. UBS Group set a $85.00 price objective on Enphase Energy in a report on Friday, May 22nd. Wells Fargo & Company reduced their price objective on Enphase Energy from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. The Goldman Sachs Group raised their target price on Enphase Energy from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Finally, Evercore set a $37.00 price target on Enphase Energy in a research note on Monday, May 4th.

Enphase Energy Trading Up 0.2%

ENPH opened at $52.41 on Tuesday. The company has a quick ratio of 3.20, a current ratio of 3.80 and a debt-to-equity ratio of 0.52. Enphase Energy has a 52 week low of $25.77 and a 52 week high of $73.74. The stock has a market cap of $6.91 billion, a PE ratio of 51.89 and a beta of 1.59. The business has a 50 day moving average of $47.68 and a 200-day moving average of $41.83.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. The business had revenue of $282.90 million for the quarter, compared to analysts' expectations of $282.28 million. Enphase Energy had a net margin of 9.64% and a return on equity of 16.88%. The business's revenue was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. Equities research analysts predict that Enphase Energy will post 0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $67.50 per share, for a total transaction of $337,500.00. Following the purchase, the chief executive officer owned 1,645,632 shares in the company, valued at approximately $111,080,160. The trade was a 0.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Mora sold 700 shares of Enphase Energy stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $64.20, for a total transaction of $44,940.00. Following the transaction, the director directly owned 13,922 shares in the company, valued at $893,792.40. This represents a 4.79% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company's stock.

Institutional Trading of Enphase Energy

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Enphase Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 16,329,647 shares of the semiconductor company's stock valued at $523,365,000 after acquiring an additional 246,876 shares in the last quarter. Norges Bank bought a new position in shares of Enphase Energy during the 4th quarter valued at about $118,190,000. Invesco Ltd. boosted its holdings in shares of Enphase Energy by 36.2% during the 4th quarter. Invesco Ltd. now owns 3,158,931 shares of the semiconductor company's stock valued at $101,244,000 after purchasing an additional 839,468 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Enphase Energy by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,510,509 shares of the semiconductor company's stock valued at $80,478,000 after purchasing an additional 11,220 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Enphase Energy by 42.4% in the first quarter. First Trust Advisors LP now owns 1,834,416 shares of the semiconductor company's stock worth $69,359,000 after purchasing an additional 546,460 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company's stock.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company's product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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