Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $147.00 at Craig Hallum

Enphase Energy (NASDAQ:ENPH) had its price target cut by Craig Hallum from $159.00 to $147.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price objective indicates a potential upside of 36.33% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price objective for the company. in a research note on Wednesday. Oppenheimer boosted their price objective on Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a report on Wednesday. Canaccord Genuity Group initiated coverage on shares of Enphase Energy in a report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price objective on the stock. Royal Bank of Canada lowered their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets lowered their price objective on shares of Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $141.00.

Enphase Energy Trading Up 0.6 %

NASDAQ ENPH opened at $107.83 on Wednesday. The business has a 50 day simple moving average of $118.79 and a 200 day simple moving average of $111.93. Enphase Energy has a one year low of $73.49 and a one year high of $192.22. The stock has a market capitalization of $14.66 billion, a P/E ratio of 53.47, a P/E/G ratio of 3.24 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19.

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

Insider Activity at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the completion of the transaction, the executive vice president now owns 119,948 shares in the company, valued at $13,948,752.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, 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 link. Also, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now owns 119,948 shares of the company’s stock, valued at approximately $13,948,752.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC bought a new position in Enphase Energy during the fourth quarter worth about $26,000. CVA Family Office LLC bought a new position in Enphase Energy during the fourth quarter worth about $31,000. Parkside Financial Bank & Trust boosted its position in Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 176 shares during the period. Addison Advisors LLC boosted its position in Enphase Energy by 1,447.6% during the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 304 shares during the period. Finally, Blue Trust Inc. boosted its position in Enphase Energy by 194.6% during the fourth quarter. Blue Trust Inc. now owns 330 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 218 shares during the period. Institutional investors 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.