Royal Bank of Canada Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $130.00

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by equities researchers at Royal Bank of Canada from $140.00 to $130.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 20.56% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Truist Financial decreased their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday. B. Riley raised their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday. Oppenheimer increased their target price on shares of Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley increased their target price 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, DZ Bank began coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They issued a “hold” rating and a $116.00 target price for the company. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $141.00.

Enphase Energy Trading Up 0.6 %

Shares of NASDAQ:ENPH opened at $107.83 on Wednesday. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 3.24 and a beta of 1.47. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22. 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 moving average price of $118.79 and a 200 day moving average price of $111.93.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. The firm had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. On average, research analysts anticipate that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Mora sold 24,285 shares of Enphase Energy 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 completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 cost of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard Mora sold 24,285 shares of the business’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 directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,285 shares of company stock worth $4,054,428. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

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