Enphase Energy (NASDAQ:ENPH) Receives New Coverage from Analysts at DZ Bank

Investment analysts at DZ Bank assumed coverage on shares of Enphase Energy (NASDAQ:ENPH) in a research report issued on Wednesday, MarketBeat reports. The brokerage set a “hold” rating and a $116.00 price target on the semiconductor company’s stock. DZ Bank’s target price would suggest a potential upside of 3.19% from the company’s current price.

Several other analysts also recently commented on the stock. Susquehanna reiterated a “positive” rating and issued a $140.00 target price on shares of Enphase Energy in a report on Friday, April 5th. Oppenheimer raised shares of Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 target price on the stock in a research report on Wednesday, February 7th. BMO Capital Markets boosted their target price on Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Royal Bank of Canada began coverage on Enphase Energy in a report on Wednesday, February 14th. They set an “outperform” rating and a $140.00 price target on the stock. Finally, Citigroup downgraded Enphase Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $126.00 to $121.00 in a research report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $149.94.

Enphase Energy Stock Up 1.8 %

NASDAQ ENPH traded up $1.94 during trading hours on Wednesday, hitting $112.41. The company’s stock had a trading volume of 3,083,896 shares, compared to its average volume of 4,077,238. The company has a market capitalization of $15.29 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 3.12 and a beta of 1.47. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $231.42. The company’s 50-day simple moving average is $120.44 and its two-hundred day simple moving average is $112.19.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Research analysts anticipate that Enphase Energy will post 2.09 EPS for the current fiscal year.

Insider Buying and Selling at Enphase Energy

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

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. increased its holdings in Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after buying an additional 4,078,723 shares during the period. Norges Bank purchased a new position in shares of Enphase Energy in the 4th quarter valued at $325,230,000. Nordea Investment Management AB increased its holdings in shares of Enphase Energy by 158.8% in the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after acquiring an additional 501,385 shares during the period. Clearbridge Investments LLC raised its position in shares of Enphase Energy by 86.2% in the 1st quarter. Clearbridge Investments LLC now owns 801,156 shares of the semiconductor company’s stock worth $161,657,000 after acquiring an additional 370,992 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Enphase Energy by 67.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 884,240 shares of the semiconductor company’s stock worth $185,938,000 after purchasing an additional 356,495 shares during the last quarter. Hedge funds and other institutional investors 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.