Enphase Energy (NASDAQ:ENPH) Downgraded by Piper Sandler to “Neutral”

Piper Sandler downgraded shares of Enphase Energy (NASDAQ:ENPHGet Rating) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday morning, The Fly reports.

A number of other brokerages have also recently commented on ENPH. Wells Fargo & Company lowered their price target on Enphase Energy from $344.00 to $326.00 and set an overweight rating for the company in a research note on Friday, January 6th. Susquehanna Bancshares cut Enphase Energy to a neutral rating and set a $365.00 target price for the company. in a research note on Thursday, December 15th. Cowen increased their target price on Enphase Energy from $278.00 to $335.00 in a research note on Wednesday, October 26th. Cowen increased their target price on Enphase Energy from $278.00 to $335.00 in a research note on Wednesday, October 26th. Finally, StockNews.com began coverage on Enphase Energy in a research note on Wednesday, October 12th. They set a hold rating for the company. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $310.35.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $219.47 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.60 and a quick ratio of 3.34. The stock has a market cap of $29.83 billion, a PE ratio of 105.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. The stock has a 50-day moving average of $284.94 and a 200-day moving average of $278.47. Enphase Energy has a one year low of $113.97 and a one year high of $339.92.

Enphase Energy (NASDAQ:ENPHGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The semiconductor company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. The company had revenue of $634.71 million during the quarter, compared to analysts’ expectations of $616.50 million. Enphase Energy had a return on equity of 76.66% and a net margin of 14.67%. As a group, sell-side analysts expect that Enphase Energy will post 3.18 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman sold 82,347 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $317.48, for a total transaction of $26,143,525.56. Following the completion of the sale, the chief executive officer now owns 1,167,786 shares of the company’s stock, valued at approximately $370,748,699.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Enphase Energy news, Director Richard Mora sold 13,000 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $308.81, for a total transaction of $4,014,530.00. Following the transaction, the director now owns 1,600 shares in the company, valued at approximately $494,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman sold 82,347 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $317.48, for a total value of $26,143,525.56. Following the transaction, the chief executive officer now owns 1,167,786 shares in the company, valued at approximately $370,748,699.28. The disclosure for this sale can be found here. Insiders sold 201,128 shares of company stock valued at $63,385,815 in the last quarter. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Enphase Energy by 2.3% in the third quarter. Vanguard Group Inc. now owns 15,387,471 shares of the semiconductor company’s stock worth $4,269,562,000 after purchasing an additional 351,517 shares during the period. Brown Advisory Inc. increased its position in shares of Enphase Energy by 1.8% in the second quarter. Brown Advisory Inc. now owns 1,529,594 shares of the semiconductor company’s stock worth $298,416,000 after purchasing an additional 26,355 shares during the period. Two Sigma Advisers LP increased its position in shares of Enphase Energy by 850.3% in the third quarter. Two Sigma Advisers LP now owns 1,418,909 shares of the semiconductor company’s stock worth $393,705,000 after purchasing an additional 1,269,600 shares during the period. Legal & General Group Plc increased its position in shares of Enphase Energy by 4.3% in the second quarter. Legal & General Group Plc now owns 955,847 shares of the semiconductor company’s stock worth $186,619,000 after purchasing an additional 39,751 shares during the period. Finally, Pictet Asset Management SA increased its position in shares of Enphase Energy by 2.9% in the third quarter. Pictet Asset Management SA now owns 934,253 shares of the semiconductor company’s stock worth $259,227,000 after purchasing an additional 26,140 shares during the period. Institutional investors own 73.79% of the company’s stock.

Enphase Energy Company Profile

(Get Rating)

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 services.

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