Enphase Energy (NASDAQ:ENPH) PT Lowered to $130.00

Enphase Energy (NASDAQ:ENPH) had its target price trimmed by Canaccord Genuity Group from $132.00 to $130.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other brokerages have also weighed in on ENPH. Susquehanna restated a positive rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. TD Cowen raised their price objective on Enphase Energy from $140.00 to $145.00 and gave the stock a buy rating in a research report on Wednesday. Piper Sandler cut their price target on Enphase Energy from $120.00 to $117.00 and set a neutral rating for the company in a research note on Friday, January 12th. Canaccord Genuity Group started coverage on Enphase Energy in a research note on Tuesday, January 16th. They issued a buy rating and a $142.00 price objective on the stock. Finally, B. Riley raised their price objective on Enphase Energy from $121.00 to $149.00 and gave the company a buy rating in a research note on Monday. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $141.00.

Enphase Energy Trading Down 5.6 %

NASDAQ:ENPH opened at $107.17 on Wednesday. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $228.36. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 55.82, a PEG ratio of 3.24 and a beta of 1.47. The business has a fifty day moving average of $119.28 and a 200-day moving average of $111.97. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. Equities 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, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,285 shares of company stock worth $4,054,428. 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 added to or reduced their stakes in ENPH. Baillie Gifford & Co. increased its holdings in Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after purchasing an additional 4,078,723 shares during the last quarter. Norges Bank acquired a new position in Enphase Energy in the fourth quarter valued at about $149,425,000. Nordea Investment Management AB grew its stake in Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after acquiring an additional 501,385 shares during the period. Westfield Capital Management Co. LP acquired a new position in Enphase Energy in the fourth quarter valued at about $41,068,000. Finally, Panagora Asset Management Inc. grew its stake in Enphase Energy by 3,396.9% in the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock valued at $34,711,000 after acquiring an additional 255,175 shares during the period. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.