BMO Capital Markets Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $113.00

Enphase Energy (NASDAQ:ENPH) had its target price dropped by stock analysts at BMO Capital Markets from $118.00 to $113.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ price target points to a potential upside of 5.58% from the stock’s previous close.

ENPH has been the subject of several other research reports. Jefferies Financial Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $135.00 to $111.00 in a research note on Wednesday. Susquehanna restated a “positive” rating and set a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. Piper Sandler dropped their price target on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a research note on Friday, January 12th. Canaccord Genuity Group assumed 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. Finally, Truist Financial dropped their target price on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $139.97.

Enphase Energy Stock Down 5.7 %

Shares of NASDAQ ENPH traded down $6.45 during midday trading on Wednesday, hitting $107.03. 7,891,145 shares of the stock traded hands, compared to its average volume of 4,133,403. Enphase Energy has a one year low of $73.49 and a one year high of $228.36. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The business has a 50 day moving average price of $119.28 and a two-hundred day moving average price of $111.97. The company has a market cap of $14.56 billion, a PE ratio of 35.14, a P/E/G ratio of 3.16 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. On average, equities analysts predict that Enphase Energy will post 2.01 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard Mora sold 24,285 shares of the company’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 completion of the transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock valued at $4,054,428 over the last three months. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently added to or reduced their stakes in ENPH. Vanguard Group Inc. increased its holdings in Enphase Energy by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after buying an additional 192,854 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after purchasing an additional 4,078,723 shares during the period. Northern Trust Corp increased its stake in Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after buying an additional 3,940 shares during the period. Norges Bank bought a new position in Enphase Energy during the fourth quarter valued at approximately $149,425,000. Finally, Schroder Investment Management Group raised its holdings in shares of Enphase Energy by 3.3% in the third quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock valued at $135,080,000 after buying an additional 35,681 shares during the last quarter. 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.