Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $213.00 at Craig Hallum

Enphase Energy (NASDAQ:ENPHGet Rating) had its target price cut by investment analysts at Craig Hallum from $241.00 to $213.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Craig Hallum’s target price would indicate a potential upside of 26.79% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Guggenheim upgraded shares of Enphase Energy from a “neutral” rating to a “buy” rating and set a $213.00 target price on the stock in a research report on Thursday, January 13th. Needham & Company LLC decreased their target price on shares of Enphase Energy from $294.00 to $255.00 in a research report on Thursday, February 3rd. JPMorgan Chase & Co. decreased their target price on shares of Enphase Energy from $290.00 to $246.00 in a research report on Thursday, January 20th. Oppenheimer upped their target price on shares of Enphase Energy from $290.00 to $307.00 in a research report on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of Enphase Energy from $313.00 to $255.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 8th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Enphase Energy presently has an average rating of “Buy” and a consensus target price of $239.71.

ENPH opened at $168.00 on Wednesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 3.16 and a current ratio of 3.33. Enphase Energy has a fifty-two week low of $108.88 and a fifty-two week high of $282.46. The firm’s fifty day moving average is $176.96 and its 200 day moving average is $185.08. The stock has a market cap of $22.67 billion, a price-to-earnings ratio of 164.22 and a beta of 1.27.

Enphase Energy (NASDAQ:ENPHGet Rating) last released its earnings results on Tuesday, April 26th. The semiconductor company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.40. Enphase Energy had a net margin of 10.52% and a return on equity of 39.09%. During the same quarter in the previous year, the business posted $0.48 EPS. On average, equities research analysts predict that Enphase Energy will post 2.25 earnings per share for the current year.

In related news, Director Steven J. Gomo sold 31,609 shares of the stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $163.48, for a total transaction of $5,167,439.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 15,376 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $162.81, for a total transaction of $2,503,366.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,577 shares of company stock worth $43,780,910. Insiders own 5.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Avantax Advisory Services Inc. raised its holdings in shares of Enphase Energy by 23.2% in the first quarter. Avantax Advisory Services Inc. now owns 4,692 shares of the semiconductor company’s stock worth $947,000 after buying an additional 885 shares during the last quarter. Advisor Partners LLC raised its holdings in shares of Enphase Energy by 21.3% in the first quarter. Advisor Partners LLC now owns 1,916 shares of the semiconductor company’s stock worth $387,000 after buying an additional 336 shares during the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Enphase Energy by 2.5% in the first quarter. Sumitomo Life Insurance Co. now owns 9,784 shares of the semiconductor company’s stock worth $1,974,000 after buying an additional 235 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Enphase Energy by 5.2% in the first quarter. Kestra Advisory Services LLC now owns 12,863 shares of the semiconductor company’s stock worth $2,595,000 after buying an additional 631 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Enphase Energy by 4.8% in the first quarter. Stratos Wealth Partners LTD. now owns 4,009 shares of the semiconductor company’s stock worth $809,000 after buying an additional 183 shares during the last quarter. 70.39% of the stock is owned by 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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