Guggenheim Downgrades Enphase Energy (NASDAQ:ENPH) to Sell

Enphase Energy (NASDAQ:ENPH) was downgraded by research analysts at Guggenheim from a “neutral” rating to a “sell” rating in a research report issued on Wednesday, Marketbeat.com reports. They currently have a $92.00 price objective on the semiconductor company’s stock. Guggenheim’s target price would suggest a potential downside of 14.68% from the company’s previous close.

Several other analysts have also commented on ENPH. Mizuho decreased their price objective on Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a report on Friday, April 19th. Canaccord Genuity Group initiated coverage on Enphase Energy in a report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price objective for the company. Piper Sandler decreased their price objective on Enphase Energy from $120.00 to $117.00 and set a “neutral” rating for the company in a report on Friday, January 12th. Oppenheimer upgraded Enphase Energy from a “market perform” rating to an “outperform” rating and set a $133.00 price objective for the company in a report on Wednesday, February 7th. Finally, BMO Capital Markets upped their target price on Enphase Energy from $106.00 to $110.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $141.00.

Enphase Energy Stock Up 0.6 %

Enphase Energy stock opened at $107.83 on Wednesday. The business has a fifty day moving average of $118.79 and a two-hundred day moving average of $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 cap of $14.66 billion, a P/E ratio of 56.16, a P/E/G ratio of 3.24 and a beta of 1.47. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $192.22.

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 company had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. On average, analysts forecast that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated 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 completion of the transaction, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated 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 directly owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold a total of 34,285 shares of company stock worth $4,054,428 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently bought and sold shares of the company. Legato Capital Management LLC acquired a new stake in Enphase Energy in the 4th quarter worth about $1,542,000. Assenagon Asset Management S.A. boosted its holdings in shares of Enphase Energy by 348.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after purchasing an additional 173,628 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Enphase Energy during the 4th quarter worth approximately $566,000. Glenmede Trust Co. NA boosted its holdings in shares of Enphase Energy by 92.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 1,521 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Enphase Energy by 8.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock worth $17,013,000 after purchasing an additional 10,729 shares during the last quarter. 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.