Enphase Energy (NASDAQ:ENPH) Price Target Cut to $220.00 by Analysts at Piper Sandler

Enphase Energy (NASDAQ:ENPHGet Rating) had its price objective cut by stock analysts at Piper Sandler from $230.00 to $220.00 in a research report issued on Thursday, The Fly reports. Piper Sandler’s target price would suggest a potential upside of 23.23% from the company’s previous close.

Other analysts also recently issued reports about the company. Truist Financial decreased their price target on Enphase Energy from $290.00 to $200.00 and set a “buy” rating for the company in a report on Monday, January 24th. Stephens assumed coverage on Enphase Energy in a report on Wednesday, April 13th. They set an “overweight” rating and a $280.00 price target for the company. StockNews.com assumed coverage on Enphase Energy in a report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. cut their price objective on Enphase Energy from $290.00 to $246.00 in a research report on Thursday, January 20th. Finally, Citigroup dropped their price target on Enphase Energy from $255.00 to $205.00 in a research report on Friday, January 28th. Seven analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $239.31.

Shares of ENPH opened at $178.53 on Thursday. The company has a market capitalization of $24.09 billion, a price-to-earnings ratio of 175.03 and a beta of 1.27. The stock’s 50-day moving average price is $176.49 and its 200-day moving average price is $184.74. The company has a quick ratio of 3.16, a current ratio of 3.33 and a debt-to-equity ratio of 2.21. Enphase Energy has a 52 week low of $108.88 and a 52 week high of $282.46.

Enphase Energy (NASDAQ:ENPHGet Rating) last posted its quarterly earnings results on Tuesday, February 8th. The semiconductor company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.29 by $0.18. The firm had revenue of $412.72 million during the quarter, compared to analysts’ expectations of $399.62 million. Enphase Energy had a return on equity of 39.09% and a net margin of 10.52%. The business’s revenue for the quarter was up 55.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. As a group, equities analysts anticipate that Enphase Energy will post 2.2 EPS for the current fiscal year.

In related news, Director Steven J. Gomo sold 31,609 shares of the company’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $163.48, for a total transaction of $5,167,439.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mandy Yang sold 12,117 shares of the company’s stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $162.81, for a total value of $1,972,768.77. The disclosure for this sale can be found here. Insiders have sold 255,577 shares of company stock worth $43,780,910 over the last ninety days. 5.00% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of ENPH. BlackRock Inc. increased its position in Enphase Energy by 7.4% in the 4th quarter. BlackRock Inc. now owns 14,961,479 shares of the semiconductor company’s stock worth $2,737,054,000 after purchasing an additional 1,030,920 shares during the last quarter. State Street Corp increased its position in Enphase Energy by 3.3% in the 4th quarter. State Street Corp now owns 5,222,204 shares of the semiconductor company’s stock worth $955,350,000 after purchasing an additional 166,746 shares during the last quarter. Geode Capital Management LLC increased its position in Enphase Energy by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 2,518,259 shares of the semiconductor company’s stock worth $459,596,000 after purchasing an additional 60,988 shares during the last quarter. Allianz Asset Management GmbH increased its position in Enphase Energy by 13.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,464,107 shares of the semiconductor company’s stock worth $267,902,000 after purchasing an additional 174,932 shares during the last quarter. Finally, Northern Trust Corp increased its position in Enphase Energy by 1.8% in the 4th quarter. Northern Trust Corp now owns 1,385,919 shares of the semiconductor company’s stock worth $253,540,000 after purchasing an additional 23,954 shares during the last quarter. 70.39% of the stock is currently owned by hedge funds and other institutional investors.

About Enphase Energy (Get Rating)

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 services.

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