Canaccord Genuity Group Trims Enphase Energy (NASDAQ:ENPH) Target Price to $130.00

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

Several other brokerages have also commented on ENPH. B. Riley increased their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a buy rating in a research note on Monday, April 22nd. BMO Capital Markets increased their price target on shares of Enphase Energy from $106.00 to $110.00 and gave the stock a market perform rating in a research note on Wednesday, February 7th. StockNews.com lowered shares of Enphase Energy from a hold rating to a sell rating in a research note on Wednesday, February 7th. Roth Mkm restated a buy rating and set a $140.00 price target on shares of Enphase Energy in a research note on Thursday, April 18th. Finally, Citigroup lowered shares of Enphase Energy from a buy rating to a neutral rating and dropped their price target for the stock from $126.00 to $121.00 in a research note on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $137.41.

Enphase Energy Stock Up 3.8 %

ENPH stock opened at $111.93 on Wednesday. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $192.22. The company’s 50 day simple moving average is $118.22 and its 200-day simple moving average is $111.90. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19. The firm has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a P/E/G ratio of 3.17 and a beta of 1.47.

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

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were 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 owns 118,360 shares in the company, valued at approximately $12,391,108.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the transaction, 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 90 days, insiders sold 54,285 shares of company stock worth $6,148,228. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. Bogart Wealth LLC acquired a new stake in Enphase Energy in the 4th quarter valued at about $26,000. CVA Family Office LLC acquired a new stake in Enphase Energy in the 4th quarter valued at about $31,000. YHB Investment Advisors Inc. acquired a new stake in Enphase Energy in the 1st quarter valued at about $35,000. Parkside Financial Bank & Trust increased its position in Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares in the last quarter. Finally, Covestor Ltd increased its position in Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds 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.