Enphase Energy (NASDAQ:ENPH) PT Lowered to $113.00

Enphase Energy (NASDAQ:ENPH) had its price target reduced by BMO Capital Markets from $118.00 to $113.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a market perform rating on the semiconductor company’s stock.

Several other analysts have also recently issued reports on ENPH. Morgan Stanley upped their target price on Enphase Energy from $97.00 to $106.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. TD Cowen lifted their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a buy rating in a research note on Wednesday. Royal Bank of Canada assumed coverage on shares of Enphase Energy in a research note on Wednesday, February 14th. They issued an outperform rating and a $140.00 price target for the company. Piper Sandler reduced their price target on shares of Enphase Energy from $120.00 to $117.00 and set a neutral rating on the stock in a research report on Friday, January 12th. Finally, StockNews.com lowered Enphase Energy from a hold rating to a sell rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $137.41.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $111.93 on Wednesday. The company 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. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $192.22. The company’s 50-day moving average price is $117.82 and its 200-day moving average price is $111.85. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Enphase Energy will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average cost of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction dated Friday, February 9th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 54,285 shares of company stock valued at $6,148,228 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Bogart Wealth LLC acquired a new stake in Enphase Energy during the fourth quarter worth approximately $26,000. CVA Family Office LLC purchased a new position in shares of Enphase Energy in the 4th quarter valued at $31,000. YHB Investment Advisors Inc. acquired a new stake in Enphase Energy during the 1st quarter worth $35,000. Parkside Financial Bank & Trust lifted its position in Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares during the last quarter. Finally, Addison Advisors LLC boosted its stake in Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 304 shares in the last quarter. 72.12% of the stock is 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.