Enphase Energy (NASDAQ:ENPH) Given New $59.00 Price Target at Susquehanna

Enphase Energy (NASDAQ:ENPH) had its price objective trimmed by Susquehanna from $76.00 to $59.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

ENPH has been the topic of several other reports. Oppenheimer lifted their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Morgan Stanley lowered their target price on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. The Goldman Sachs Group reduced their price target on Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. OTR Global raised Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Finally, TD Cowen cut their price objective on Enphase Energy from $94.00 to $78.00 and set a “buy” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $88.49.

Enphase Energy Price Performance

Enphase Energy stock opened at $54.55 on Monday. The business’s fifty day moving average is $60.24 and its two-hundred day moving average is $70.35. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.53. The firm has a market cap of $7.23 billion, a P/E ratio of 73.72 and a beta of 1.94. Enphase Energy has a 52 week low of $47.48 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Equities research analysts forecast that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the transaction, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company’s stock worth $1,135,707,000 after purchasing an additional 44,782 shares during the period. Baillie Gifford & Co. increased its holdings in Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after buying an additional 2,028,691 shares during the period. Invesco Ltd. raised its position in shares of Enphase Energy by 43.4% in the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock valued at $313,034,000 after buying an additional 1,378,978 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Enphase Energy by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company’s stock worth $234,994,000 after acquiring an additional 47,593 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after acquiring an additional 1,258,778 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.