Jefferies Financial Group Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $54.00

Enphase Energy (NASDAQ:ENPH) had its price objective dropped by Jefferies Financial Group from $57.00 to $54.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Jefferies Financial Group’s price target points to a potential upside of 33.78% from the stock’s current price.

ENPH has been the topic of a number of other research reports. Northland Securities increased their price objective on shares of Enphase Energy from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 29th. TD Cowen boosted their target price on Enphase Energy from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Oppenheimer upped their price target on Enphase Energy from $67.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Roth Mkm reissued a “buy” rating and issued a $55.00 price objective (up from $45.00) on shares of Enphase Energy in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Enphase Energy from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Ten equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.17.

Enphase Energy Trading Down 5.1%

Shares of ENPH stock traded down $2.17 during trading hours on Thursday, hitting $40.37. 1,709,052 shares of the company were exchanged, compared to its average volume of 6,856,509. The company has a 50 day simple moving average of $42.85 and a two-hundred day simple moving average of $36.84. The firm has a market cap of $5.29 billion, a P/E ratio of 31.27 and a beta of 1.35. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.84 and a current ratio of 2.07. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $63.70.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.19. The company had revenue of $343.32 million for the quarter, compared to the consensus estimate of $340.45 million. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. Enphase Energy’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS. Equities analysts anticipate that Enphase Energy will post 2.08 EPS for the current year.

Insider Activity at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was purchased at an average cost of $51.98 per share, with a total value of $259,900.00. Following the acquisition, the chief executive officer owned 1,640,632 shares of the company’s stock, valued at approximately $85,280,051.36. This trade represents a 0.31% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thurman J. Rodgers sold 137,250 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $43.61, for a total value of $5,985,472.50. Following the completion of the sale, the director directly owned 1,597,641 shares of the company’s stock, valued at approximately $69,673,124.01. This trade represents a 7.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 514 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its position in shares of Enphase Energy by 77.8% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 800 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 350 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in Enphase Energy by 761.0% during the third quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 761 shares during the last quarter. Stance Capital LLC purchased a new position in Enphase Energy during the third quarter worth about $32,000. Finally, Geneos Wealth Management Inc. grew its position in Enphase Energy by 199.7% in the 3rd quarter. Geneos Wealth Management Inc. now owns 920 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 613 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.