Enphase Energy (NASDAQ:ENPH) Price Target Cut to $147.00

Enphase Energy (NASDAQ:ENPH) had its price target trimmed by Craig Hallum from $159.00 to $147.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the stock. TD Cowen increased their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research report on Wednesday. Canaccord Genuity Group reduced their target price on shares of Enphase Energy from $132.00 to $130.00 and set a buy rating for the company in a research report on Wednesday. Piper Sandler reiterated a neutral rating and issued a $111.00 target price (down from $113.00) on shares of Enphase Energy in a research report on Wednesday. B. Riley raised their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a buy rating in a research report on Monday. Finally, KeyCorp restated a sector weight rating on shares of Enphase Energy in a research report on Thursday, January 4th. Three equities 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 stock presently has a consensus rating of Hold and a consensus target price of $141.00.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $107.17 on Wednesday. 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 fifty day moving average of $119.28 and a two-hundred day moving average of $111.97. The stock has a market capitalization of $14.57 billion, a PE ratio of 55.82, a P/E/G ratio of 3.24 and a beta of 1.47. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results 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 business had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. As a group, research analysts forecast that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’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 completion of the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy 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 completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The stock was 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 of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. lifted its stake in Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after acquiring an additional 4,078,723 shares during the last quarter. Norges Bank purchased a new position in Enphase Energy in the fourth quarter worth approximately $149,425,000. Nordea Investment Management AB lifted its stake in Enphase Energy by 158.8% in the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after acquiring an additional 501,385 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Enphase Energy during the fourth quarter worth approximately $41,068,000. Finally, Panagora Asset Management Inc. raised its holdings in Enphase Energy by 3,396.9% during the fourth 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. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.