Piper Sandler Reaffirms “Neutral” Rating for Enphase Energy (NASDAQ:ENPH)

Piper Sandler restated their neutral rating on shares of Enphase Energy (NASDAQ:ENPH) in a report issued on Wednesday morning, Benzinga reports. They currently have a $111.00 price objective on the semiconductor company’s stock, down from their prior price objective of $113.00.

ENPH has been the subject of several other reports. Royal Bank of Canada started coverage on shares of Enphase Energy in a research note on Wednesday, February 14th. They set an outperform rating and a $140.00 price objective for the company. DZ Bank started coverage on shares of Enphase Energy in a research note on Wednesday, April 17th. They set a hold rating and a $116.00 price objective for the company. Jefferies Financial Group downgraded shares of Enphase Energy from a buy rating to a hold rating and decreased their target price for the company from $135.00 to $111.00 in a research report on Wednesday. Canaccord Genuity Group decreased their target price on shares of Enphase Energy from $132.00 to $130.00 and set a buy rating for the company in a research report on Wednesday. Finally, Barclays boosted their target price on shares of Enphase Energy from $106.00 to $115.00 and gave the company an equal weight rating in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $137.41.

Enphase Energy Price Performance

NASDAQ ENPH opened at $111.93 on Wednesday. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $192.22. The firm’s fifty day simple moving average is $118.22 and its two-hundred day simple moving average is $111.90. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a P/E/G ratio of 3.17 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 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Analysts forecast that Enphase Energy will post 1.96 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,285 shares of company stock valued at $6,148,228. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Hedge funds have recently made changes to their positions in the company. Bogart Wealth LLC purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $31,000. YHB Investment Advisors Inc. acquired a new position in shares of Enphase Energy in the 1st quarter worth approximately $35,000. Parkside Financial Bank & Trust lifted its holdings in shares of Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 176 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 shares during the last quarter. 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.