Enphase Energy (NASDAQ:ENPH) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group cut shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a hold rating in a research report report published on Wednesday morning, MarketBeat.com reports. Jefferies Financial Group currently has $111.00 target price on the semiconductor company’s stock, down from their prior target price of $135.00.

Several other equities research analysts have also recently commented on ENPH. Wells Fargo & Company upgraded Enphase Energy from an equal weight rating to an overweight rating and boosted their target price for the company from $98.00 to $141.00 in a research note on Monday, January 8th. Truist Financial cut their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating on the stock in a research report on Tuesday, April 23rd. StockNews.com downgraded shares of Enphase Energy from a hold rating to a sell rating in a research report on Wednesday, February 7th. DZ Bank initiated coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They set a hold rating and a $116.00 price target on the stock. Finally, Susquehanna restated a positive rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. Three 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 company. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of Hold and a consensus price target of $137.41.

Enphase Energy Stock Up 3.8 %

Shares of ENPH stock opened at $111.93 on Wednesday. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $192.22. The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The firm has a fifty day moving average of $117.82 and a 200-day moving average of $111.85. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 58.30, a P/E/G ratio of 3.17 and a beta of 1.47.

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

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold a total of 54,285 shares of company stock worth $6,148,228 over the last quarter. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC bought a new position in Enphase Energy during the 4th quarter worth $26,000. CVA Family Office LLC acquired a new stake in shares of Enphase Energy during the 4th quarter worth $31,000. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy during the 1st quarter worth $35,000. Parkside Financial Bank & Trust raised its stake 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 purchasing an additional 176 shares in the last quarter. Finally, Covestor Ltd raised its stake in Enphase Energy by 61.6% in the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares in the last quarter. 72.12% of the stock is currently 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.