Enphase Energy (NASDAQ:ENPH) Price Target Cut to $130.00 by Analysts at Royal Bank of Canada

Enphase Energy (NASDAQ:ENPH) had its price target cut by Royal Bank of Canada from $140.00 to $130.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

ENPH has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on shares of Enphase Energy from $141.00 to $128.00 and set an overweight rating on the stock in a report on Wednesday. Canaccord Genuity Group began coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They set a buy rating and a $142.00 price objective for the company. Susquehanna reaffirmed a positive rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Friday, April 5th. Barclays boosted their price objective on shares of Enphase Energy from $106.00 to $115.00 and gave the company an equal weight rating in a research note on Thursday, February 8th. Finally, Jefferies Financial Group cut shares of Enphase Energy from a buy rating to a hold rating and reduced their price objective for the company from $135.00 to $111.00 in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy has a consensus rating of Hold and an average price target of $141.00.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $107.17 on Wednesday. The company’s 50-day moving average is $119.28 and its 200 day moving average is $111.97. 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 company has a market capitalization of $14.57 billion, a P/E ratio of 55.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36.

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

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction 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 owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock worth $4,054,428 in the last three months. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Legato Capital Management LLC purchased a new stake in shares of Enphase Energy in the 4th quarter worth about $1,542,000. Assenagon Asset Management S.A. grew its position in shares of Enphase Energy by 348.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after buying an additional 173,628 shares during the period. AustralianSuper Pty Ltd purchased a new stake in shares of Enphase Energy in the 4th quarter worth about $566,000. Glenmede Trust Co. NA grew its position in Enphase Energy by 92.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock valued at $380,000 after purchasing an additional 1,521 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Enphase Energy by 8.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock valued at $17,013,000 after purchasing an additional 10,729 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.