Roth Capital Boosts Enphase Energy (NASDAQ:ENPH) Price Target to $23.00

Enphase Energy (NASDAQ:ENPH) had its price objective lifted by Roth Capital from $17.00 to $23.00 in a research report released on Monday morning, The Fly reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Enphase Energy from a hold rating to a strong-buy rating and set a $23.00 price objective for the company in a research report on Monday, July 8th. ValuEngine upgraded shares of Enphase Energy from a buy rating to a strong-buy rating in a research report on Wednesday, May 1st. B. Riley restated a buy rating and issued a $21.00 target price on shares of Enphase Energy in a research report on Wednesday, June 12th. BidaskClub upgraded shares of Enphase Energy from a hold rating to a buy rating in a research report on Tuesday, July 9th. Finally, HC Wainwright cut shares of Enphase Energy from a buy rating to a neutral rating and set a $16.00 target price for the company. in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $32.25.

Shares of NASDAQ:ENPH opened at $30.10 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 4.63. Enphase Energy has a fifty-two week low of $3.70 and a fifty-two week high of $31.17. The firm’s 50-day simple moving average is $19.58. The company has a market cap of $2.39 billion, a P/E ratio of -250.83 and a beta of 0.92.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. The business had revenue of $134.09 million for the quarter, compared to the consensus estimate of $120.36 million. During the same period in the prior year, the company earned $0.02 EPS. Enphase Energy’s quarterly revenue was up 76.7% on a year-over-year basis. As a group, analysts expect that Enphase Energy will post 0.35 earnings per share for the current fiscal year.

In other Enphase Energy news, VP David A. Ranhoff sold 63,516 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $14.62, for a total value of $928,603.92. Following the completion of the transaction, the vice president now owns 790,517 shares in the company, valued at approximately $11,557,358.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.46% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Candriam Luxembourg S.C.A. acquired a new position in Enphase Energy in the 2nd quarter valued at approximately $698,000. Cookson Peirce & Co. Inc. increased its stake in Enphase Energy by 70.4% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 65,585 shares of the semiconductor company’s stock valued at $1,196,000 after buying an additional 27,105 shares during the period. Aperio Group LLC acquired a new position in Enphase Energy in the 2nd quarter valued at approximately $26,000. Dupont Capital Management Corp acquired a new position in Enphase Energy in the 2nd quarter valued at approximately $378,000. Finally, First Trust Advisors LP increased its stake in Enphase Energy by 2.2% in the 2nd quarter. First Trust Advisors LP now owns 302,372 shares of the semiconductor company’s stock valued at $5,512,000 after buying an additional 6,550 shares during the period. 48.47% of the stock is owned by institutional investors.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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