Enphase Energy (NASDAQ:ENPH) Price Target Cut to $124.00

Enphase Energy (NASDAQ:ENPHFree Report) had its target price trimmed by JPMorgan Chase & Co. from $128.00 to $124.00 in a research note published on Thursday, Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on the company. Royal Bank of Canada decreased their target price on Enphase Energy from $140.00 to $130.00 and set an outperform rating for the company in a research note on Wednesday, April 24th. Mizuho dropped their target price on Enphase Energy from $150.00 to $148.00 and set a buy rating on the stock in a research report on Friday, April 19th. HSBC upgraded shares of Enphase Energy from a hold rating to a buy rating and set a $166.00 price target for the company in a research report on Monday, June 10th. B. Riley lifted their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the company a buy rating in a research report on Monday, April 22nd. Finally, TD Cowen boosted their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $136.55.

View Our Latest Report on ENPH

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $106.67 on Thursday. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 55.56, a price-to-earnings-growth ratio of 4.18 and a beta of 1.77. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $192.22. The business has a 50 day simple moving average of $117.71 and a 200-day simple moving average of $118.11.

Enphase Energy (NASDAQ:ENPHGet Free Report) last released its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.17). Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The business had revenue of $263.34 million for the quarter, compared to the consensus estimate of $280.06 million. As a group, equities research analysts expect that Enphase Energy will post 1.53 earnings per share for the current year.

Insider Activity

In related news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $116.29, for a total value of $581,450.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were 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 approximately $13,948,752.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. Insiders sold a total of 349,526 shares of company stock valued at $43,721,225 over the last three months. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Baillie Gifford & Co. grew its stake in Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after acquiring an additional 4,078,723 shares in the last quarter. Swedbank AB acquired a new position in Enphase Energy in the 1st quarter valued at approximately $424,130,000. Norges Bank purchased a new stake in Enphase Energy in the 4th quarter worth approximately $149,425,000. Nordea Investment Management AB boosted its stake in shares of Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock valued at $109,083,000 after buying an additional 501,385 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Enphase Energy during the 1st quarter valued at $59,128,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Enphase Energy (NASDAQ:ENPH)

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