Enphase Energy’s (ENPH) Neutral Rating Reiterated at Piper Sandler

Piper Sandler restated their neutral rating on shares of Enphase Energy (NASDAQ:ENPH) in a report released on Wednesday, Benzinga reports. The brokerage currently has a $111.00 price target on the semiconductor company’s stock, down from their prior price target of $113.00.

Other equities research analysts also recently issued research reports about the company. Citigroup downgraded Enphase Energy from a buy rating to a neutral rating and dropped their price objective for the company from $126.00 to $121.00 in a research report on Friday, April 5th. Guggenheim downgraded shares of Enphase Energy from a neutral rating to a sell rating and set a $92.00 price objective on the stock. in a research report on Wednesday. KeyCorp reissued a sector weight rating on shares of Enphase Energy in a research report on Thursday, January 4th. JPMorgan Chase & Co. lowered their target price on shares of Enphase Energy from $141.00 to $128.00 and set an overweight rating for the company in a research note on Wednesday. Finally, Barclays upped their price target on Enphase Energy from $106.00 to $115.00 and gave the stock an equal weight rating in a research report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $137.41.

Enphase Energy Trading Up 3.8 %

NASDAQ:ENPH opened at $111.93 on Wednesday. The firm has a 50-day simple moving average of $117.82 and a 200-day simple moving average of $111.85. Enphase Energy has a one year low of $73.49 and a one year high of $192.22. The firm has a market cap of $15.23 billion, a P/E ratio of 58.30, a P/E/G ratio of 3.17 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million during 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 31.89%. Equities analysts anticipate that Enphase Energy will post 1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on 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 owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the transaction, 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. In the last three months, insiders have sold 54,285 shares of company stock valued at $6,148,228. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently modified their holdings of the business. Bogart Wealth LLC acquired a new position in Enphase Energy in the 4th quarter worth about $26,000. CVA Family Office LLC purchased a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $31,000. YHB Investment Advisors Inc. acquired a new position in shares of Enphase Energy during the 1st quarter worth approximately $35,000. Parkside Financial Bank & Trust lifted its position in shares of Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 176 shares in the last quarter. Finally, Covestor Ltd grew its stake in Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.