Enphase Energy (NASDAQ:ENPH) Earns Buy Rating from Roth Mkm

Enphase Energy (NASDAQ:ENPH - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Roth Mkm in a research note issued to investors on Thursday, Benzinga reports. They currently have a $140.00 price target on the semiconductor company's stock. Roth Mkm's target price suggests a potential upside of 28.24% from the stock's current price.

Other analysts have also recently issued reports about the company. BMO Capital Markets boosted their price objective on Enphase Energy from $106.00 to $110.00 and gave the stock a "market perform" rating in a report on Wednesday, February 7th. Wells Fargo & Company raised Enphase Energy from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $98.00 to $141.00 in a research note on Monday, January 8th. Mizuho upped their price target on Enphase Energy from $131.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, January 3rd. Piper Sandler lowered their price target on Enphase Energy from $120.00 to $117.00 and set a "neutral" rating for the company in a research note on Friday, January 12th. Finally, Susquehanna reiterated a "positive" rating and issued a $140.00 price objective on shares of Enphase Energy in a research report on Friday, April 5th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $149.94.

Enphase Energy Stock Performance

Shares of Enphase Energy stock traded down $2.88 during midday trading on Thursday, hitting $109.17. The company had a trading volume of 3,173,257 shares, compared to its average volume of 4,073,670. The business's 50 day simple moving average is $120.17 and its two-hundred day simple moving average is $112.17. The stock has a market cap of $14.85 billion, a PE ratio of 35.68, a P/E/G ratio of 3.06 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $228.50.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly 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 net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. As a group, equities analysts predict that Enphase Energy will post 2.09 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the company's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares of the company's stock, valued at approximately $13,605,587.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,285 shares of company stock worth $4,054,428. Company insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legato Capital Management LLC acquired a new position in Enphase Energy during the fourth quarter worth $1,542,000. Assenagon Asset Management S.A. grew its stake in shares of Enphase Energy by 348.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company's stock worth $29,525,000 after acquiring an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Enphase Energy in the 4th quarter worth $566,000. Glenmede Trust Co. NA grew its stake in shares of Enphase Energy by 92.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company's stock worth $380,000 after acquiring an additional 1,521 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Enphase Energy by 8.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company's stock worth $17,013,000 after acquiring an additional 10,729 shares in the last quarter. 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.