Richard Mora Sells 2,825 Shares of Enphase Energy, Inc. (NASDAQ:ENPH) Stock

Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) Director Richard Mora sold 2,825 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $297.33, for a total value of $839,957.25. Following the completion of the sale, the director now directly owns 1,600 shares of the company’s stock, valued at $475,728. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $300.91 on Friday. The company has a market cap of $40.76 billion, a P/E ratio of 210.43, a P/E/G ratio of 2.42 and a beta of 1.50. The company has a quick ratio of 3.35, a current ratio of 3.62 and a debt-to-equity ratio of 2.66. Enphase Energy, Inc. has a 52 week low of $113.40 and a 52 week high of $305.88. The business has a fifty day simple moving average of $211.58 and a 200-day simple moving average of $181.36.

Enphase Energy (NASDAQ:ENPHGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The semiconductor company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. The business had revenue of $530.20 million during the quarter, compared to the consensus estimate of $506.57 million. Enphase Energy had a return on equity of 56.60% and a net margin of 11.71%. Equities research analysts forecast that Enphase Energy, Inc. will post 2.81 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp grew its position in Enphase Energy by 13.7% during the second quarter. M&T Bank Corp now owns 5,728 shares of the semiconductor company’s stock valued at $1,119,000 after acquiring an additional 689 shares during the period. Reynders McVeigh Capital Management LLC grew its position in Enphase Energy by 2.5% during the second quarter. Reynders McVeigh Capital Management LLC now owns 31,654 shares of the semiconductor company’s stock valued at $6,180,000 after acquiring an additional 779 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Enphase Energy during the second quarter valued at about $3,076,000. Zions Bancorporation N.A. grew its position in Enphase Energy by 105.6% during the second quarter. Zions Bancorporation N.A. now owns 148 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 76 shares during the period. Finally, Scotia Capital Inc. purchased a new stake in Enphase Energy during the second quarter valued at about $374,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Cowen raised their price target on Enphase Energy from $240.00 to $278.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Guggenheim lifted their price objective on Enphase Energy to $293.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Needham & Company LLC lifted their price objective on Enphase Energy from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Stephens initiated coverage on Enphase Energy in a report on Wednesday, April 13th. They set an “overweight” rating and a $280.00 price objective for the company. Finally, Cowen lifted their price objective on Enphase Energy from $227.00 to $240.00 in a report on Wednesday, April 27th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.52.

Enphase Energy Company Profile

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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 services.

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