Enphase Energy (NASDAQ:ENPH) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a hold rating in a research note released on Wednesday morning, MarketBeat reports. They currently have $111.00 price objective on the semiconductor company’s stock, down from their prior price objective of $135.00.

ENPH has been the subject of a number of other reports. Truist Financial lowered their target price on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a report on Tuesday. Canaccord Genuity Group began coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They set a buy rating and a $142.00 price target for the company. Canaccord Genuity Group dropped their price target on shares of Enphase Energy from $132.00 to $130.00 and set a buy rating for the company in a research report on Wednesday. Morgan Stanley upped their price target on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Finally, BMO Capital Markets upped their price target on shares of Enphase Energy from $106.00 to $110.00 and gave the stock a market perform rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $141.00.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $107.17 on Wednesday. The company has a market cap of $14.57 billion, a PE ratio of 55.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $228.36. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. On average, equities analysts anticipate that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

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

Institutional Trading of Enphase Energy

Several hedge funds have recently bought and sold shares of ENPH. Bogart Wealth LLC bought a new stake in Enphase Energy in the 4th quarter valued at about $26,000. CVA Family Office LLC bought a new stake in Enphase Energy in the 4th quarter valued at about $31,000. Parkside Financial Bank & Trust lifted its position in Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 176 shares during the last quarter. Covestor Ltd lifted its position in Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares during the last quarter. Finally, Addison Advisors LLC lifted its position in Enphase Energy by 1,447.6% in the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 304 shares during the last quarter. 72.12% of the stock is currently owned by 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.