Enphase Energy (NASDAQ:ENPH) Price Target Cut to $113.00 by Analysts at BMO Capital Markets

Enphase Energy (NASDAQ:ENPH) had its target price cut by BMO Capital Markets from $118.00 to $113.00 in a report issued on Wednesday, Benzinga reports. They currently have a market perform rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group cut their target price on Enphase Energy from $132.00 to $130.00 and set a buy rating on the stock in a research report on Wednesday. Citigroup lowered Enphase Energy from a buy rating to a neutral rating and cut their target price for the company from $126.00 to $121.00 in a research report on Friday, April 5th. TD Cowen upped their target price on Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research report on Wednesday. Canaccord Genuity Group started coverage on Enphase Energy in a research report on Tuesday, January 16th. They issued a buy rating and a $142.00 target price on the stock. Finally, Piper Sandler cut their target price on Enphase Energy from $120.00 to $117.00 and set a neutral rating on the stock in a research report on Friday, January 12th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $141.00.

Enphase Energy Stock Performance

Enphase Energy stock opened at $107.17 on Wednesday. The stock’s 50 day moving average price is $119.28 and its 200 day moving average price is $111.97. The firm has a market capitalization of $14.57 billion, a PE ratio of 55.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. Enphase Energy has a one year low of $73.49 and a one year high of $228.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. As a group, sell-side analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 119,948 shares in the company, valued at $13,948,752.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Mora sold 24,285 shares of the company’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 owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is owned by company insiders.

Institutional Trading of Enphase Energy

Several institutional investors have recently modified their holdings of the company. Bogart Wealth LLC purchased a new stake in shares of Enphase Energy during the fourth quarter valued at $26,000. CVA Family Office LLC purchased a new stake in shares of Enphase Energy during the fourth quarter valued at $31,000. Parkside Financial Bank & Trust lifted its holdings in shares of Enphase Energy by 131.3% during 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 during the last quarter. Covestor Ltd lifted its holdings in shares of Enphase Energy by 61.6% during 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 last quarter. Finally, Addison Advisors LLC lifted its holdings in shares of Enphase Energy by 1,447.6% during the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.