BMO Capital Markets Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $113.00

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by stock analysts at BMO Capital Markets from $118.00 to $113.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 4.79% from the company’s current price.

A number of other analysts have also commented on ENPH. Barclays boosted their price objective on Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $141.00 to $128.00 and set an “overweight” rating for the company in a research report on Wednesday. B. Riley lifted their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler lowered their target price on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a report on Friday, January 12th. Finally, DZ Bank assumed coverage on shares of Enphase Energy in a report on Wednesday, April 17th. They set a “hold” rating and a $116.00 price target on the stock. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.00.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $107.83 on Wednesday. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $192.22. The stock’s 50 day moving average is $118.79 and its 200-day moving average is $111.93. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. Sell-side analysts forecast that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Activity

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC increased its stake in shares of Enphase Energy by 50.9% during the first quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 144 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Enphase Energy by 14.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,570 shares of the semiconductor company’s stock valued at $3,577,000 after acquiring an additional 3,700 shares in the last quarter. V Square Quantitative Management LLC increased its position in Enphase Energy by 24.9% during the 1st quarter. V Square Quantitative Management LLC now owns 2,008 shares of the semiconductor company’s stock valued at $243,000 after purchasing an additional 400 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Enphase Energy by 47.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,215 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 390 shares in the last quarter. Finally, TriaGen Wealth Management LLC lifted its position in shares of Enphase Energy by 4.0% in the 1st quarter. TriaGen Wealth Management LLC now owns 6,293 shares of the semiconductor company’s stock worth $761,000 after purchasing an additional 241 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.