Barclays Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $129.00

Enphase Energy (NASDAQ:ENPH) had its price target lowered by Barclays from $131.00 to $129.00 in a research note released on Thursday, Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

ENPH has been the subject of several other reports. Susquehanna lifted their target price on Enphase Energy from $140.00 to $147.00 and gave the stock a positive rating in a research report on Monday, July 15th. Piper Sandler increased their price target on Enphase Energy from $111.00 to $120.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Canaccord Genuity Group decreased their price objective on Enphase Energy from $150.00 to $140.00 and set a buy rating for the company in a report on Wednesday, July 24th. Citigroup cut shares of Enphase Energy from a buy rating to a neutral rating and dropped their target price for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Finally, Mizuho reduced their price target on shares of Enphase Energy from $150.00 to $148.00 and set a buy rating for the company in a report on Friday, April 19th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of Hold and an average target price of $128.53.

Enphase Energy Trading Up 1.5 %

ENPH stock opened at $119.34 on Thursday. The firm’s fifty day simple moving average is $115.31 and its two-hundred day simple moving average is $115.31. The stock has a market capitalization of $16.16 billion, a price-to-earnings ratio of 62.16, a price-to-earnings-growth ratio of 5.82 and a beta of 1.71. The company has a quick ratio of 3.78, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $175.59.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly 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 17.30%. The firm had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was down 57.3% on a year-over-year basis. As a group, analysts anticipate that Enphase Energy will post 1.24 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its position in shares of 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 period. Swedbank AB purchased a new stake in shares of Enphase Energy in the first quarter valued at approximately $424,130,000. Norges Bank acquired a new position in Enphase Energy during the fourth quarter worth $149,425,000. Canada Pension Plan Investment Board purchased a new stake in shares of Enphase Energy during the first quarter worth about $59,128,000. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Enphase Energy during the 4th quarter worth about $41,068,000. 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.