Enphase Energy (NASDAQ:ENPH) Given New $130.00 Price Target at Canaccord Genuity Group

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by Canaccord Genuity Group from $132.00 to $130.00 in a research report released on Wednesday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the stock. Citigroup cut shares of Enphase Energy from a buy rating to a neutral rating and reduced their target price for the company from $126.00 to $121.00 in a research report on Friday, April 5th. TD Cowen increased their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research report on Wednesday. Susquehanna reiterated a positive rating and issued a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. Mizuho reduced their target price on shares of Enphase Energy from $150.00 to $148.00 and set a buy rating for the company in a research report on Friday, April 19th. Finally, Truist Financial reduced their target price on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given 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

ENPH opened at $107.17 on Wednesday. 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 company has a market cap of $14.57 billion, a price-to-earnings ratio of 55.82, a PEG ratio of 3.24 and a beta of 1.47. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $228.36. The firm’s fifty day simple moving average is $119.28 and its two-hundred day simple moving average is $111.97.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million for 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%. Equities analysts anticipate that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP David A. Ranhoff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value 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 legal filing with the SEC, which is available at the SEC website. In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The shares were 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 owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction that occurred 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 approximately $13,605,587.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC lifted its stake in Enphase Energy by 24.9% in the first quarter. V Square Quantitative Management LLC now owns 2,008 shares of the semiconductor company’s stock worth $243,000 after acquiring an additional 400 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Enphase Energy by 47.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,215 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 390 shares during the last quarter. TriaGen Wealth Management LLC lifted its stake in Enphase Energy by 4.0% in the first quarter. TriaGen Wealth Management LLC now owns 6,293 shares of the semiconductor company’s stock worth $761,000 after acquiring an additional 241 shares during the last quarter. United Asset Strategies Inc. lifted its position in shares of Enphase Energy by 2.3% during the 1st quarter. United Asset Strategies Inc. now owns 6,346 shares of the semiconductor company’s stock worth $768,000 after buying an additional 141 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Enphase Energy by 67.5% during the 1st quarter. Fifth Third Bancorp now owns 5,171 shares of the semiconductor company’s stock worth $626,000 after buying an additional 2,083 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.