Mizuho Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its target price lowered by stock analysts at Mizuho from $81.00 to $65.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Mizuho’s price objective indicates a potential upside of 43.86% from the company’s current price.

Several other research firms also recently issued reports on ENPH. BMO Capital Markets cut their price objective on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Susquehanna cut their price target on shares of Enphase Energy from $76.00 to $59.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Piper Sandler lowered their price objective on shares of Enphase Energy from $65.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Glj Research reissued a “sell” rating and issued a $50.69 target price on shares of Enphase Energy in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their price target on Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.95.

Enphase Energy Stock Down 15.4 %

Shares of Enphase Energy stock opened at $45.18 on Tuesday. Enphase Energy has a 52-week low of $44.88 and a 52-week high of $141.63. The firm’s 50 day moving average price is $58.58 and its 200-day moving average price is $68.10. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The company has a market cap of $5.99 billion, a P/E ratio of 61.06 and a beta of 1.94.

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

Insider Buying and Selling at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 1,881,760 shares in the company, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after buying an additional 2,028,691 shares during the period. Invesco Ltd. lifted its stake in Enphase Energy by 43.4% during the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock worth $313,034,000 after acquiring an additional 1,378,978 shares in the last quarter. Nordea Investment Management AB boosted its holdings in 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 valued at $155,360,000 after acquiring an additional 1,258,778 shares during the period. Worldquant Millennium Advisors LLC grew its position in Enphase Energy by 531.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock valued at $55,342,000 after acquiring an additional 678,163 shares in the last quarter. Finally, Norges Bank purchased a new stake in Enphase Energy during the fourth quarter worth about $46,339,000. Hedge funds and other 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.