Enphase Energy’s (ENPH) Neutral Rating Reaffirmed at Piper Sandler

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

ENPH has been the topic of several other reports. Mizuho reduced their price objective on Enphase Energy from $150.00 to $148.00 and set a buy rating on the stock in a research note on Friday, April 19th. Royal Bank of Canada started coverage on Enphase Energy in a research note on Wednesday, February 14th. They issued an outperform rating and a $140.00 price objective on the stock. Citigroup cut Enphase Energy from a buy rating to a neutral rating and cut their price target for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Canaccord Genuity Group started coverage on Enphase Energy in a research note on Tuesday, January 16th. They issued a buy rating and a $142.00 price target on the stock. Finally, Canaccord Genuity Group cut their price target on Enphase Energy from $132.00 to $130.00 and set a buy rating on the stock in a research note on Wednesday. Three 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. According to MarketBeat.com, Enphase Energy has a consensus rating of Hold and a consensus price target of $141.00.

Enphase Energy Trading Down 5.6 %

ENPH opened at $107.17 on Wednesday. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36. The business has a fifty day simple moving average of $119.28 and a 200-day simple moving average of $111.97. The firm has a market cap of $14.57 billion, a P/E ratio of 55.82, a P/E/G ratio of 3.24 and a beta of 1.47. 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 announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. On average, equities analysts expect that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now owns 119,948 shares of the company’s stock, valued at $13,948,752.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the sale, the executive vice president now owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred 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 in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock valued at $4,054,428 over the last quarter. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bogart Wealth LLC acquired a new stake in shares of Enphase Energy during the 4th quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in shares of Enphase Energy during the 4th quarter valued at approximately $31,000. Parkside Financial Bank & Trust raised its position in shares of 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 raised its position in shares of Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 133 shares during the last quarter. Finally, Addison Advisors LLC raised its position in shares of Enphase Energy by 1,447.6% during the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 304 shares during the last quarter. 72.12% of the stock is currently 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.