Enphase Energy (NASDAQ:ENPH) Earns Hold Rating from Jefferies Financial Group

Jefferies Financial Group reissued their hold rating on shares of Enphase Energy (NASDAQ:ENPH) in a report released on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a $115.00 target price on the semiconductor company’s stock, up from their previous target price of $111.00.

Several other research firms also recently commented on ENPH. Bank of America decreased their price target on shares of Enphase Energy from $71.00 to $70.00 and set an underperform rating on the stock in a research note on Wednesday, July 17th. HSBC upgraded shares of Enphase Energy from a hold rating to a buy rating and set a $166.00 target price on the stock in a research report on Monday, June 10th. Canaccord Genuity Group cut their price target 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, July 24th. Susquehanna lifted their price objective on Enphase Energy from $140.00 to $147.00 and gave the stock a positive rating in a report on Monday, July 15th. Finally, Glj Research initiated coverage on Enphase Energy in a report on Tuesday, June 25th. They set a sell rating and a $45.82 target price for the company. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy currently has an average rating of Hold and a consensus price target of $128.89.

Enphase Energy Stock Down 3.1 %

Shares of NASDAQ:ENPH opened at $108.65 on Wednesday. The firm has a fifty day moving average of $111.33 and a 200 day moving average of $115.47. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a market capitalization of $14.78 billion, a PE ratio of 56.59, a price-to-earnings-growth ratio of 6.22 and a beta of 1.71.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. As a group, research analysts anticipate that Enphase Energy will post 1.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $123.27, for a total transaction of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares in the company, valued at approximately $13,306,133.61. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ENPH. Westfield Capital Management Co. LP bought a new position in shares of Enphase Energy during the fourth quarter valued at approximately $41,068,000. Northern Trust Corp increased its position 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 in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Enphase Energy by 48.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Enphase Energy by 364.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after acquiring an additional 85,284 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Enphase Energy by 279.6% in the first quarter. Cetera Investment Advisers now owns 24,248 shares of the semiconductor company’s stock worth $2,934,000 after acquiring an additional 17,861 shares in the last quarter. 72.12% of the stock is 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.