Enphase Energy (NASDAQ:ENPH) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Enphase Energy (NASDAQ:ENPH) in a research note issued to investors on Wednesday morning, Benzinga reports. Piper Sandler currently has a $111.00 price target on the semiconductor company’s stock, down from their previous price target of $113.00.

Several other analysts have also recently commented on ENPH. Citigroup cut shares of Enphase Energy from a buy rating to a neutral rating and reduced their price objective for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Susquehanna reiterated a positive rating and issued a $140.00 price objective on shares of Enphase Energy in a research note on Friday, April 5th. TD Cowen raised their price objective on shares of Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research note on Wednesday. Truist Financial reduced their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group cut shares of Enphase Energy from a buy rating to a hold rating and reduced their price objective for the company from $135.00 to $111.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $137.41.

Enphase Energy Stock Up 3.8 %

ENPH stock opened at $111.93 on Wednesday. Enphase Energy has a one year low of $73.49 and a one year high of $192.22. The stock has a market capitalization of $15.23 billion, a PE ratio of 58.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16. The company has a fifty day moving average of $118.22 and a 200-day moving average of $111.90.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The company had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. As a group, analysts expect that Enphase Energy will post 1.96 EPS for the current year.

Insider Transactions at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The disclosure for this sale can be found here. Insiders sold a total of 54,285 shares of company stock worth $6,148,228 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently bought and sold shares of ENPH. Vanguard Group Inc. lifted its position in Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after buying an additional 192,854 shares in the last quarter. Baillie Gifford & Co. lifted its position in Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after buying an additional 4,078,723 shares in the last quarter. Northern Trust Corp lifted its position in Enphase Energy by 0.3% during the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after buying an additional 3,940 shares in the last quarter. Norges Bank acquired a new position in Enphase Energy during the fourth quarter valued at approximately $149,425,000. Finally, Schroder Investment Management Group lifted its position in Enphase Energy by 3.3% during the third quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock valued at $135,080,000 after buying an additional 35,681 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

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.