Enphase Energy (NASDAQ: ENPH) on the Performer market at Raymond James
Enphase Energy (NASDAQ: ENPH) was outclassed by research analysts at Raymond James from an “underperforming” rating to a “market performance” rating in a report released on Monday, Briefing.com reports.
A number of other analysts have also recently commented on the company. B. Riley increased his price target on Enphase Energy from $ 108.00 to $ 151.00 and rated the company as “neutral” in a research report on Tuesday, February 9. Needham & Company LLC raised its price target on Enphase Energy from $ 118.00 to $ 240.00 and assigned a “buy” rating to the stock in a report on Wednesday, February 10. Piper Sandler raised her price target on Enphase Energy from $ 150.00 to $ 211.00 and gave the stock an “overweight” rating in a report on Tuesday, January 19. Bank of America raised its price target on Enphase Energy from $ 116.00 to $ 131.00 and gave the stock a “buy” rating in a report on Monday, November 16. Finally, Credit Suisse Group raised its price target on Enphase Energy from $ 93.00 to $ 150.00 and gave the company a “neutral” rating in a research report on Wednesday, January 20. Seven research analysts rated the stock with a sustaining rating and twelve gave the company’s stock a buy rating. Enphase Energy currently has a “Buy” consensus rating and an average target price of $ 169.65.
Actions of NASDAQ: ENPH open at $ 143.55 on Mondays. The company’s 50-day simple moving average is $ 190.46 and its two-hundred-day simple moving average is $ 135.64. The company has a market cap of $ 18.52 billion, a P / E ratio of 112.15, a PEG ratio of 3.36 and a beta of 1.44. The company has a leverage ratio of 0.62, a quick ratio of 3.17, and a current ratio of 3.31. Enphase Energy has a 52-week low of $ 21.49 and a 52-week high of $ 229.04.
Enphase Energy (NASDAQ: ENPH) last reported its quarterly results on Monday, February 8. The semiconductor company reported earnings per share (EPS) of $ 0.51 for the quarter, beating the consensus estimate of $ 0.41 from $ 0.10. The company posted revenue of $ 264.80 million for the quarter, compared to analysts’ estimates of $ 254.21 million. Enphase Energy recorded a return on equity of 30.06% and a net margin of 24.69%. The company’s quarterly revenue increased 26.1% year-over-year. In the same quarter of the previous year, the company achieved earnings per share of $ 0.39. On average, equity analysts expect Enphase Energy to post earnings per share of 0.95 for the current fiscal year.
In addition, Executive Vice President David A. Ranhoff sold 8,833 Enphase Energy shares in a transaction dated Tuesday, March 2. The stock was sold for an average price of $ 177.23, for a total value of $ 1,565,472.59. Following the transaction, the Executive Vice President now owns 294,220 shares of the company, valued at $ 52,144,610.60. The transaction was disclosed in a document filed with the SEC, accessible via this link. In addition, director Joseph Ian Malchow sold 3,000 shares of the company’s stock in a transaction dated Friday, December 11. The shares were sold for an average price of $ 143.90, for a total value of $ 431,700.00. As a result of the transaction, the director now owns 82,950 shares of the company, valued at approximately $ 11,936,505. Disclosure of this sale can be found here. In the last quarter, insiders sold 216,786 shares of the company valued at $ 38,297,161. Company insiders own 7.10% of the company’s shares.
A number of large investors have recently changed their positions in the stock. BlackRock Inc. increased its holdings in Enphase Energy by 15.2% during the 4th quarter. BlackRock Inc. now owns 15,010,272 shares of the semiconductor company valued at $ 2,633,853,000 after purchasing an additional 1,976,690 shares during the period. Sylebra Capital Ltd increased its stake in Enphase Energy by 27.5% during the 3rd quarter. Sylebra Capital Ltd now owns 4,188,531 shares of the semiconductor company valued at $ 345,931,000 after purchasing an additional 904,307 shares during the period. State Street Corp increased its holdings in Enphase Energy by 19.9% during the 3rd quarter. State Street Corp now owns 2,624,762 shares of the semiconductor company valued at $ 216,779,000 after purchasing an additional 435,840 shares during the period. Lord Abbett & CO. LLC increased its stake in Enphase Energy by 128.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,192,385 shares of the semiconductor company valued at $ 181,069,000 after purchasing an additional 1,232,322 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Enphase Energy by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,200,725 shares of the semiconductor company valued at $ 210,691,000 after purchasing an additional 49,475 shares during the period. Institutional investors hold 72.81% of the company’s shares.
About Enphase Energy
Enphase Energy, Inc., along with its subsidiaries, designs, develops, manufactures and sells home energy solutions for the solar photovoltaic industry in the United States and around the world. The company offers solid-state microinverters, which convert energy at the individual solar module level and combine with its proprietary grid technologies and software to provide energy monitoring and control services.
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