Enphase Energy (NASDAQ:ENPH) PT Lowered to $140.00

Enphase Energy (NASDAQ:ENPH) had its target price cut by Canaccord Genuity Group from $150.00 to $140.00 in a research report issued on Wednesday, Briefing.com reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 17.98% from the company’s current price.

A number of other equities research analysts have also recently commented on ENPH. Oppenheimer lifted their price target on shares of Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup downgraded Enphase Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $126.00 to $121.00 in a research note on Friday, April 5th. Susquehanna boosted their price objective on Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a research note on Monday, July 15th. Canaccord Genuity Group cut their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, B. Riley boosted their price target on shares of Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $129.93.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH traded up $15.02 during midday trading on Wednesday, reaching $118.66. The company had a trading volume of 7,998,249 shares, compared to its average volume of 4,146,982. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $182.26. The company’s 50 day moving average price is $115.17 and its 200 day moving average price is $115.28. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. The stock has a market cap of $16.14 billion, a P/E ratio of 61.32, a P/E/G ratio of 4.84 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, April 23rd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The company had revenue of $263.34 million during the quarter, compared to analysts’ expectations of $280.06 million. As a group, sell-side analysts anticipate that Enphase Energy will post 1.31 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the sale, the director now owns 1,984,562 shares of the company’s stock, valued at $251,106,629.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at approximately $13,306,133.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thurman J. Rodgers sold 319,526 shares of Enphase Energy stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the transaction, the director now owns 1,984,562 shares in the company, valued at approximately $251,106,629.86. The disclosure for this sale can be found here. Insiders have sold a total of 344,526 shares of company stock valued at $43,139,775 over the last 90 days. 3.40% of the stock is owned by insiders.

Institutional Trading of Enphase Energy

Institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC purchased a new position in shares of Enphase Energy in the fourth quarter worth about $26,000. Manchester Capital Management LLC lifted its position in Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the last quarter. CVA Family Office LLC bought a new stake in Enphase Energy in the fourth quarter valued at approximately $31,000. Chilton Capital Management LLC boosted its stake in shares of Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 246 shares during the period. Finally, YHB Investment Advisors Inc. bought a new position in shares of Enphase Energy in the first quarter worth approximately $35,000. 72.12% of the stock is currently owned by hedge funds and other 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.