Analysts Set Enphase Energy, Inc. (NASDAQ:ENPH) Price Target at $68.31

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have received an average recommendation of “Hold” from the thirty-three research firms that are covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $68.31.

A number of analysts recently weighed in on the stock. Susquehanna dropped their price objective on shares of Enphase Energy from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Piper Sandler dropped their price objective on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. BNP Paribas Exane cut shares of Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 price objective on the stock. in a report on Tuesday, May 13th. Truist Financial dropped their price objective on shares of Enphase Energy from $65.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Finally, Redburn Atlantic assumed coverage on shares of Enphase Energy in a report on Monday, March 3rd. They issued a “neutral” rating on the stock.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $46.35 per share, with a total value of $185,400.00. Following the completion of the transaction, the chief executive officer now owns 1,598,696 shares in the company, valued at $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Enphase Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock valued at $1,135,707,000 after acquiring an additional 44,782 shares in the last quarter. Baillie Gifford & Co. raised its position in Enphase Energy by 32.0% during the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company’s stock valued at $685,799,000 after acquiring an additional 2,680,567 shares in the last quarter. Invesco Ltd. raised its position in Enphase Energy by 15.5% during the first quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company’s stock valued at $326,664,000 after acquiring an additional 706,656 shares in the last quarter. Geode Capital Management LLC raised its position in Enphase Energy by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company’s stock valued at $234,994,000 after acquiring an additional 47,593 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Enphase Energy by 40.9% during the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company’s stock valued at $114,614,000 after purchasing an additional 484,497 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Up 2.0%

ENPH stock opened at $45.60 on Friday. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. Enphase Energy has a fifty-two week low of $37.59 and a fifty-two week high of $130.08. The firm’s 50-day simple moving average is $46.51 and its 200 day simple moving average is $58.71. The stock has a market cap of $5.98 billion, a PE ratio of 61.62 and a beta of 1.70.

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.