Enphase Energy (NASDAQ:ENPH) Price Target Cut to $147.00 by Analysts at Craig Hallum

Enphase Energy (NASDAQ:ENPH) had its target price lowered by Craig Hallum from $159.00 to $147.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently issued reports on ENPH. Canaccord Genuity Group dropped their target price on shares of Enphase Energy from $132.00 to $130.00 and set a buy rating on the stock in a report on Wednesday. B. Riley raised their target price on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a buy rating in a report on Monday. Oppenheimer increased their price target on shares of Enphase Energy from $133.00 to $134.00 and gave the stock an outperform rating in a research report on Wednesday. KeyCorp reiterated a sector weight rating on shares of Enphase Energy in a research report on Thursday, January 4th. Finally, DZ Bank assumed coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They issued a hold rating and a $116.00 price target on the stock. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Enphase Energy presently has an average rating of Hold and an average price target of $141.00.

Enphase Energy Trading Down 5.6 %

NASDAQ:ENPH opened at $107.17 on Wednesday. The company’s 50 day moving average price is $119.28 and its 200-day moving average price is $111.97. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 55.82, a PEG ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. The company had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. On average, equities research analysts forecast that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction 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 transaction, the executive vice president now directly owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 34,285 shares of company stock worth $4,054,428. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC grew its stake in shares of Enphase Energy by 24.9% in the 1st quarter. V Square Quantitative Management LLC now owns 2,008 shares of the semiconductor company’s stock worth $243,000 after buying an additional 400 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its stake in shares of Enphase Energy by 47.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,215 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 390 shares during the period. TriaGen Wealth Management LLC boosted its stake in shares of Enphase Energy by 4.0% during the 1st quarter. TriaGen Wealth Management LLC now owns 6,293 shares of the semiconductor company’s stock worth $761,000 after purchasing an additional 241 shares during the period. United Asset Strategies Inc. boosted its stake in shares of Enphase Energy by 2.3% during the 1st quarter. United Asset Strategies Inc. now owns 6,346 shares of the semiconductor company’s stock worth $768,000 after purchasing an additional 141 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Enphase Energy by 67.5% during the 1st quarter. Fifth Third Bancorp now owns 5,171 shares of the semiconductor company’s stock worth $626,000 after purchasing an additional 2,083 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.