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

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

ENPH has been the topic of a number of other research reports. Canaccord Genuity Group initiated coverage on Enphase Energy in a research report on Tuesday, January 16th. They issued a buy rating and a $142.00 target price on the stock. Roth Mkm reiterated a buy rating and issued a $140.00 target price on shares of Enphase Energy in a research report on Wednesday. BMO Capital Markets dropped their target price on Enphase Energy from $118.00 to $113.00 and set a market perform rating on the stock in a research report on Wednesday. Citigroup lowered Enphase Energy from a buy rating to a neutral rating and dropped their target price for the company from $126.00 to $121.00 in a research report on Friday, April 5th. Finally, StockNews.com lowered Enphase Energy from a hold rating to a sell rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $141.00.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $107.17 on Wednesday. Enphase Energy has a one year low of $73.49 and a one year high of $228.36. The company has a market capitalization of $14.57 billion, a PE ratio of 55.82, a P/E/G ratio of 3.24 and a beta of 1.47. 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 50-day simple moving average of $119.28 and a two-hundred 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, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. The business had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Research analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, 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 value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Enphase Energy news, 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 value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the company’s stock in a transaction 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 completion of the acquisition, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold a total of 34,285 shares of company stock worth $4,054,428 in the last three months. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently modified their holdings of ENPH. Baillie Gifford & Co. grew its holdings in shares of Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock worth $539,102,000 after purchasing an additional 4,078,723 shares during the period. Norges Bank purchased a new position in shares of Enphase Energy during the 4th quarter worth $149,425,000. Nordea Investment Management AB grew its holdings in shares of Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Enphase Energy during the 4th quarter worth $41,068,000. Finally, Panagora Asset Management Inc. boosted its holdings in Enphase Energy by 3,396.9% during the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock valued at $34,711,000 after acquiring an additional 255,175 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Enphase Energy Company Profile

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.