Royal Bank of Canada Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $130.00

Enphase Energy (NASDAQ:ENPH) had its target price reduced by research analysts at Royal Bank of Canada from $140.00 to $130.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 21.46% from the stock’s current price.

ENPH has been the topic of a number of other reports. Barclays increased their price target on Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. KeyCorp reaffirmed a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. JPMorgan Chase & Co. dropped their target price on Enphase Energy from $141.00 to $128.00 and set an “overweight” rating on the stock in a report on Wednesday. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target for the company. in a research report on Wednesday. Finally, Piper Sandler reissued a “neutral” rating and set a $111.00 price target (down from $113.00) on shares of Enphase Energy in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $139.97.

Enphase Energy Trading Down 5.7 %

Shares of Enphase Energy stock traded down $6.45 during trading on Wednesday, hitting $107.03. The stock had a trading volume of 7,891,145 shares, compared to its average volume of 4,133,403. The stock has a 50 day simple moving average of $119.28 and a 200 day simple moving average 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 has a 1 year low of $73.49 and a 1 year high of $228.36. The company has a market capitalization of $14.56 billion, a PE ratio of 35.14, a P/E/G ratio of 3.16 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last announced its 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. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. On average, research analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Mora sold 24,285 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following 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 worth $4,054,428 in the last quarter. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Donoghue Forlines LLC lifted its position in Enphase Energy by 4.8% during the 4th quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after acquiring an additional 90 shares during the last quarter. Fermata Advisors LLC increased its stake in Enphase Energy by 1.4% in the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after acquiring an additional 100 shares during the period. Fulton Breakefield Broenniman LLC increased its stake in Enphase Energy by 0.9% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock valued at $1,505,000 after acquiring an additional 107 shares during the period. VitalStone Financial LLC grew its stake in Enphase Energy by 14.3% during the fourth quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock worth $117,000 after buying an additional 111 shares during the last quarter. Finally, E Fund Management Co. Ltd. lifted its position in shares of Enphase Energy by 5.5% during the third quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

About Enphase Energy

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.