Enphase Energy’s (ENPH) “Neutral” Rating Reiterated at Piper Sandler

Enphase Energy (NASDAQ:ENPH)‘s stock had its “neutral” rating reaffirmed by research analysts at Piper Sandler in a report released on Wednesday, Benzinga reports. They presently have a $111.00 target price on the semiconductor company’s stock, down from their prior target price of $113.00. Piper Sandler’s target price would suggest a potential upside of 3.23% from the company’s current price.

Other research analysts have also issued reports about the stock. KeyCorp reissued a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Barclays raised their target price on shares of Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. B. Riley lifted 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. JPMorgan Chase & Co. reduced their price target on shares of Enphase Energy from $141.00 to $128.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company reduced their price target on shares of Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three 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 data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $140.27.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH traded down $5.95 during trading on Wednesday, reaching $107.53. 7,731,711 shares of the company’s stock traded hands, compared to its average volume of 4,130,749. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The firm has a market cap of $14.62 billion, a PE ratio of 35.50, a P/E/G ratio of 3.16 and a beta of 1.47. The company has a 50-day simple moving average of $119.28 and a 200-day simple moving average of $111.97.

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, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. As a group, analysts predict that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock worth $4,054,428 over the last ninety days. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in ENPH. Legato Capital Management LLC purchased a new stake in shares of Enphase Energy in the fourth quarter valued at $1,542,000. Assenagon Asset Management S.A. grew its position in shares of Enphase Energy by 348.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock valued at $29,525,000 after purchasing an additional 173,628 shares during the period. AustralianSuper Pty Ltd purchased a new stake in shares of Enphase Energy in the fourth quarter valued at $566,000. Glenmede Trust Co. NA grew its position in shares of Enphase Energy by 92.7% in the third 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 period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Enphase Energy by 8.2% in the third 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 period. 72.12% of the stock is owned by institutional investors and hedge funds.

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.