Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $53.00 at Mizuho

Enphase Energy (NASDAQ:ENPH) had its target price trimmed by Mizuho from $61.00 to $53.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on the company. Guggenheim reaffirmed a “sell” rating and set a $33.00 price objective on shares of Enphase Energy in a report on Wednesday, April 23rd. BNP Paribas Exane lowered Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 price objective on the stock. in a report on Tuesday, May 13th. Craig Hallum dropped their price objective on Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. BMO Capital Markets reaffirmed an “underperform” rating and set a $39.00 price objective (down previously from $46.00) on shares of Enphase Energy in a report on Tuesday, May 13th. Finally, TD Cowen decreased their target price on Enphase Energy from $78.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.45.

Enphase Energy Trading Down 0.2%

Shares of ENPH stock opened at $41.32 on Monday. The business’s fifty day moving average price is $49.26 and its 200 day moving average price is $60.19. Enphase Energy has a 1-year low of $37.59 and a 1-year high of $141.63. The firm has a market capitalization of $5.42 billion, a PE ratio of 55.84 and a beta of 1.80. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer now owns 1,598,696 shares of the company’s stock, valued at $74,099,559.60. This represents a 0.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares in the company, valued at $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. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. lifted its position in Enphase Energy by 32.0% during the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company’s stock worth $685,799,000 after buying an additional 2,680,567 shares during the period. Invesco Ltd. increased its stake in Enphase Energy by 43.4% during the fourth 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 during the last quarter. AQR Capital Management LLC increased its stake in Enphase Energy by 9,236.6% during the first quarter. AQR Capital Management LLC now owns 691,564 shares of the semiconductor company’s stock worth $41,483,000 after acquiring an additional 684,157 shares during the last quarter. Worldquant Millennium Advisors LLC increased its stake in Enphase Energy by 531.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after acquiring an additional 678,163 shares during the last quarter. Finally, Norges Bank acquired a new stake in Enphase Energy during the fourth quarter worth about $46,339,000. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

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.