Enphase Energy (NASDAQ:ENPH) PT Lowered to $140.00

Enphase Energy (NASDAQ:ENPH) had its target price lowered by stock analysts at Canaccord Genuity Group from $150.00 to $140.00 in a report released on Wednesday, MarketBeat.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 19.13% from the company’s previous close.

A number of other research firms have also commented on ENPH. Wells Fargo & Company lowered their price objective on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Susquehanna raised their price objective on Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research note on Monday, July 15th. Piper Sandler raised their price objective on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday. DZ Bank assumed coverage on Enphase Energy in a research note on Wednesday, April 17th. They set a “hold” rating and a $116.00 price objective on the stock. Finally, Barclays decreased their price target on Enphase Energy from $134.00 to $131.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $129.70.

Enphase Energy Price Performance

Enphase Energy stock opened at $117.52 on Wednesday. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $176.00. The stock’s 50 day moving average is $115.21 and its 200-day moving average is $115.31. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $15.99 billion, a price-to-earnings ratio of 61.21, a PEG ratio of 4.79 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 16.90%. The firm had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. During the same period in the previous year, the company posted $1.16 EPS. Enphase Energy’s revenue for the quarter was down 57.3% compared to the same quarter last year. Equities research analysts expect that Enphase Energy will post 1.31 EPS for the current year.

Insider Activity at Enphase Energy

In other news, CFO Mandy Yang bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $104.24 per share, with a total value of $416,960.00. Following the transaction, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mandy Yang acquired 4,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $104.24 per share, with a total value of $416,960.00. Following the acquisition, the chief financial officer now owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thurman J. Rodgers sold 319,526 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total value of $40,429,624.78. Following the sale, the director now directly owns 1,984,562 shares of the company’s stock, valued at $251,106,629.86. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Enphase Energy

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 stake in Enphase Energy during the 4th quarter worth approximately $26,000. Manchester Capital Management LLC grew its holdings in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 203 shares in the last quarter. CVA Family Office LLC bought a new position in shares of Enphase Energy in the fourth quarter valued at approximately $31,000. Chilton Capital Management LLC grew its holdings in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in shares of Enphase Energy in the first quarter valued at approximately $35,000. 72.12% of the stock is owned by institutional investors.

About Enphase Energy

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.