Enphase Energy (NASDAQ:ENPH) Given “Underperform” Rating at BMO Capital Markets

BMO Capital Markets restated their underperform rating on shares of Enphase Energy (NASDAQ:ENPH) in a report published on Tuesday, Marketbeat Ratings reports. They currently have a $39.00 target price on the semiconductor company’s stock, down from their previous target price of $46.00.

Several other research analysts have also weighed in on ENPH. Jefferies Financial Group decreased their price objective on shares of Enphase Energy from $44.00 to $37.00 and set an “underperform” rating for the company in a report on Wednesday, April 23rd. Mizuho decreased their price target on shares of Enphase Energy from $81.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price target on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Redburn Atlantic initiated coverage on shares of Enphase Energy in a report on Monday, March 3rd. They issued a “neutral” rating for the company. Finally, Craig Hallum decreased their price target on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.87.

Enphase Energy Price Performance

Shares of ENPH stock opened at $45.63 on Tuesday. The firm has a market cap of $5.99 billion, a P/E ratio of 61.66 and a beta of 1.80. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. Enphase Energy has a 1-year low of $43.09 and a 1-year high of $141.63. The firm has a fifty day moving average of $54.15 and a two-hundred day moving average of $63.26.

Insider Transactions at Enphase Energy

In related news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now directly owns 1,881,760 shares of the company’s stock, valued at $115,276,617.60. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $46.35 per share, with a total value of $185,400.00. Following the completion of the purchase, the chief executive officer now owns 1,598,696 shares of the company’s stock, valued at approximately $74,099,559.60. The trade was a 0.25% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake 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 purchasing an additional 44,782 shares during the last quarter. Baillie Gifford & Co. lifted its stake 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 purchasing an additional 2,680,567 shares during the last quarter. Invesco Ltd. lifted its stake 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 purchasing an additional 706,656 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Enphase Energy by 1.4% in the 4th 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 lifted its position in shares of Enphase Energy by 40.9% in the 4th quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company’s stock valued at $114,614,000 after acquiring an additional 484,497 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.