Enphase Energy (NASDAQ:ENPH) Price Target Cut to $113.00

Enphase Energy (NASDAQ:ENPH) had its price target reduced by BMO Capital Markets from $118.00 to $113.00 in a research note issued to investors on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the semiconductor company’s stock.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their price target on Enphase Energy from $141.00 to $128.00 and set an overweight rating on the stock in a research report on Wednesday. TD Cowen raised their price target on Enphase Energy from $140.00 to $145.00 and gave the stock a buy rating in a research report on Wednesday. Piper Sandler reduced their price target 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. 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 price target on the stock. Finally, StockNews.com lowered Enphase Energy from a hold rating to a sell rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $141.00.

Enphase Energy Stock Down 5.6 %

NASDAQ ENPH opened at $107.17 on Wednesday. The stock has a fifty day moving average of $119.28 and a 200-day moving average of $111.97. The stock has a market capitalization of $14.57 billion, a P/E ratio of 55.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36. 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 (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million during 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 research analysts forecast that Enphase Energy will post 2.01 EPS for the current 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 that occurred 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 transaction, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Enphase Energy news, 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 transaction of $2,928,528.15. Following the transaction, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. 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 90 days. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in ENPH. Baillie Gifford & Co. boosted its holdings in shares of Enphase Energy by 387,343.1% during the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after acquiring an additional 4,078,723 shares during the period. Norges Bank bought a new stake in shares of Enphase Energy during the fourth quarter worth approximately $149,425,000. Nordea Investment Management AB boosted its holdings in shares of Enphase Energy by 158.8% during the fourth quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after acquiring an additional 501,385 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Enphase Energy during the fourth quarter worth approximately $41,068,000. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Enphase Energy by 3,396.9% during the fourth quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after acquiring an additional 255,175 shares during the period. Institutional investors 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.