Enphase Energy (NASDAQ:ENPH) PT Lowered to $147.00

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by equities research analysts at Craig Hallum from $159.00 to $147.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target suggests a potential upside of 36.01% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group cut Enphase Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $111.00 in a research report on Wednesday. Mizuho reduced their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, April 19th. B. Riley increased their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. cut their target price on shares of Enphase Energy from $141.00 to $128.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, TD Cowen raised their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $141.00.

Enphase Energy Stock Performance

Shares of ENPH stock traded down $5.40 on Wednesday, hitting $108.08. The company had a trading volume of 8,453,416 shares, compared to its average volume of 4,142,547. The firm has a market cap of $14.70 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $228.36. The company has a 50-day moving average price of $119.28 and a 200-day moving average price of $111.97. 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 (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The business had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. As a group, equities research analysts predict that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, with a total value of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction on Friday, February 9th. The shares were 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 filing with the SEC, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. In the last three months, insiders have sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Enphase Energy

Large investors have recently made changes to their positions in the company. Bogart Wealth LLC acquired a new stake in shares of Enphase Energy in the fourth quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in Enphase Energy during the 4th quarter worth $31,000. Parkside Financial Bank & Trust grew its position in Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 176 shares during the last quarter. Covestor Ltd increased 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 during the period. Finally, Addison Advisors LLC raised its holdings in shares of Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 304 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.