Enphase Energy (NASDAQ:ENPH) Price Target Cut to $130.00 by Analysts at Canaccord Genuity Group

Enphase Energy (NASDAQ:ENPH) had its target price cut by Canaccord Genuity Group from $132.00 to $130.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other analysts also recently weighed in on the stock. Susquehanna reissued a positive rating and set a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. Piper Sandler decreased their target price on shares of Enphase Energy from $120.00 to $117.00 and set a neutral rating for the company in a research report on Friday, January 12th. Citigroup downgraded shares of Enphase Energy from a buy rating to a neutral rating and decreased their target price for the company from $126.00 to $121.00 in a research report on Friday, April 5th. Morgan Stanley increased their target price on shares of Enphase Energy from $97.00 to $106.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Finally, Oppenheimer increased their target price on shares of Enphase Energy from $133.00 to $134.00 and gave the company an outperform rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $137.41.

Enphase Energy Stock Up 3.8 %

Shares of NASDAQ ENPH opened at $111.93 on Wednesday. The stock has a 50-day moving average price of $118.22 and a two-hundred day moving average price of $111.90. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $192.22. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.17 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. As a group, analysts forecast that Enphase Energy will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other news, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 118,360 shares of the company’s stock, valued at approximately $12,391,108.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Richard Mora sold 24,285 shares of the firm’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 sale, 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 legal filing with the SEC, which is available at the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the sale, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The disclosure for this sale can be found here. In the last three months, insiders sold 54,285 shares of company stock valued at $6,148,228. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. CWM LLC increased its holdings in Enphase Energy by 6.3% in the 3rd quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock worth $485,000 after acquiring an additional 239 shares during the last quarter. AE Wealth Management LLC increased its holdings in Enphase Energy by 24.3% in the 3rd quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock worth $1,795,000 after acquiring an additional 2,921 shares during the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Enphase Energy by 108.3% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 325 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Enphase Energy by 155.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 820 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in Enphase Energy in the 3rd quarter worth about $259,000. Hedge funds and other institutional investors 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.