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

Enphase Energy (NASDAQ:ENPH) had its target price reduced by stock analysts at Canaccord Genuity Group from $132.00 to $130.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 20.56% from the stock’s previous close.

Other analysts also recently issued reports about the stock. KeyCorp reissued a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Canaccord Genuity Group began coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective on the stock. StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Royal Bank of Canada began coverage on shares of Enphase Energy in a research report on Wednesday, February 14th. They issued an “outperform” rating and a $140.00 price objective on the stock. Finally, BMO Capital Markets boosted their price objective on shares of 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 analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $141.00.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $107.83 on Wednesday. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $192.22. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The company has a market capitalization of $14.66 billion, a P/E ratio of 53.47, a P/E/G ratio of 3.24 and a beta of 1.47. The company has a fifty day moving average of $118.79 and a 200-day moving average of $111.93.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (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 31.34%. As a group, equities research analysts predict that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were 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 $199,514,312.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the transaction, the executive vice president now owns 124,948 shares in the company, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,285 shares of company stock worth $4,054,428. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. Bogart Wealth LLC bought a new position in Enphase Energy during the fourth quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in Enphase Energy during the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust increased its holdings in Enphase Energy by 131.3% during the third 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 during the last quarter. Covestor Ltd increased its holdings in Enphase Energy by 61.6% during the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 133 shares during the last quarter. Finally, Addison Advisors LLC increased its holdings in Enphase Energy by 1,447.6% during the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 304 shares during the last quarter. 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.