Canaccord Genuity Group Trims Enphase Energy (NASDAQ:ENPH) Target Price to $130.00

Enphase Energy (NASDAQ:ENPH) had its price objective cut by stock analysts at Canaccord Genuity Group from $132.00 to $130.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 14.56% from the company’s previous close.

Several other brokerages have also commented on ENPH. StockNews.com lowered Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Thursday, April 18th. Canaccord Genuity Group assumed coverage on Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target on the stock. Oppenheimer lifted their price target on Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Barclays lifted their price target on Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and a consensus target price of $141.82.

Enphase Energy Stock Up 2.7 %

Enphase Energy stock opened at $113.48 on Wednesday. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36. The business’s 50-day moving average price is $119.28 and its 200 day moving average price is $111.97. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. As a group, sell-side analysts anticipate that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction on 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 sale, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock worth $4,054,428 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares in the last quarter. Norges Bank acquired a new position in Enphase Energy during the 4th quarter worth $149,425,000. Nordea Investment Management AB grew its stake in Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Enphase Energy during the 4th quarter worth $41,068,000. Finally, Panagora Asset Management Inc. grew its stake in Enphase Energy by 3,396.9% during the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after purchasing an additional 255,175 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.