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

Enphase Energy (NASDAQ:ENPH) had its price target reduced by equities research analysts at Canaccord Genuity Group from $132.00 to $130.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 20.56% from the company’s current price.

Several other research analysts have also weighed in on ENPH. Canaccord Genuity Group began coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They set a “buy” rating and a $142.00 target price for the company. Barclays increased their target price on shares of Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. DZ Bank began coverage on shares of Enphase Energy in a research note on Wednesday, April 17th. They set a “hold” rating and a $116.00 target price for the company. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $126.00 to $121.00 in a research note on Friday, April 5th. Finally, Oppenheimer increased their target price on shares of Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $141.00.

Enphase Energy Price Performance

Enphase Energy stock opened at $107.83 on Wednesday. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $192.22. The stock has a market cap of $14.66 billion, a P/E ratio of 53.47, a PEG ratio of 3.24 and a beta of 1.47. The company has a 50-day moving average price of $118.79 and a 200 day moving average price of $111.93. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32.

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, 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 firm had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. Sell-side analysts anticipate that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock valued at $4,054,428 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Donoghue Forlines LLC raised its holdings in Enphase Energy by 4.8% during the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 90 shares in the last quarter. Fermata Advisors LLC increased its holdings in shares of Enphase Energy by 1.4% in the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after acquiring an additional 100 shares during the period. Fulton Breakefield Broenniman LLC increased its holdings in shares of Enphase Energy by 0.9% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock valued at $1,505,000 after acquiring an additional 107 shares during the period. VitalStone Financial LLC increased its holdings in shares of Enphase Energy by 14.3% in the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock valued at $117,000 after acquiring an additional 111 shares during the period. Finally, E Fund Management Co. Ltd. increased its holdings in shares of Enphase Energy by 5.5% in the 3rd quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock valued at $303,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

About Enphase Energy

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.