Enphase Energy (NASDAQ:ENPH) Given New $130.00 Price Target at Royal Bank of Canada

Enphase Energy (NASDAQ:ENPH) had its target price dropped by investment analysts at Royal Bank of Canada from $140.00 to $130.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 20.56% from the stock’s previous close.

A number of other brokerages also recently issued reports on ENPH. Piper Sandler restated a “neutral” rating and issued a $111.00 price target (down previously from $113.00) on shares of Enphase Energy in a research report on Wednesday. Roth Mkm restated a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research report on Wednesday. Jefferies Financial Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $135.00 to $111.00 in a research report on Wednesday. Mizuho dropped their price target on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.00.

Enphase Energy Trading Up 0.6 %

ENPH opened at $107.83 on Wednesday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. 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. The company’s 50 day moving average price is $118.79 and its two-hundred day moving average price is $111.93.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. As a group, research analysts predict that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock valued at $4,054,428 over the last three months. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Lindbrook Capital LLC lifted its holdings in shares of Enphase Energy by 50.9% in the first quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock worth $52,000 after buying an additional 144 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of 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 worth $3,577,000 after buying an additional 3,700 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Enphase Energy by 24.9% in the first quarter. V Square Quantitative Management LLC now owns 2,008 shares of the semiconductor company’s stock worth $243,000 after buying an additional 400 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Enphase Energy by 47.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,215 shares of the semiconductor company’s stock worth $147,000 after buying an additional 390 shares in the last quarter. Finally, TriaGen Wealth Management LLC lifted its holdings in shares of Enphase Energy by 4.0% in the first quarter. TriaGen Wealth Management LLC now owns 6,293 shares of the semiconductor company’s stock worth $761,000 after buying an additional 241 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.