BMO Capital Markets Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $113.00

Enphase Energy (NASDAQ:ENPH) had its price target cut by BMO Capital Markets from $118.00 to $113.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a market perform rating on the semiconductor company’s stock.

ENPH has been the topic of several other reports. Jefferies Financial Group lowered shares of Enphase Energy from a buy rating to a hold rating and dropped their price objective for the company from $135.00 to $111.00 in a research report on Wednesday. Oppenheimer lifted their price objective on Enphase Energy from $133.00 to $134.00 and gave the company an outperform rating in a report on Wednesday. Wells Fargo & Company raised shares of Enphase Energy from an equal weight rating to an overweight rating and upped their price target for the stock from $98.00 to $141.00 in a report on Monday, January 8th. Morgan Stanley upped their price objective on 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, Guggenheim cut shares of Enphase Energy from a neutral rating to a sell rating and set a $92.00 target price on the stock. in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $137.41.

Enphase Energy Stock Up 3.8 %

Shares of ENPH stock opened at $111.93 on Wednesday. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30. The firm’s fifty day moving average price is $117.82 and its two-hundred day moving average price is $111.85. The firm has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a PEG ratio of 3.17 and a beta of 1.47. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last issued its 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. 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 31.89%. On average, equities analysts predict that Enphase Energy will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven J. Gomo sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the sale, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 in the company, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,285 shares of company stock valued at $6,148,228. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ENPH. Baillie Gifford & Co. raised its holdings in 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 valued at $539,102,000 after acquiring an additional 4,078,723 shares during the period. Norges Bank bought a new position in shares of Enphase Energy in the fourth quarter worth approximately $149,425,000. Nordea Investment Management AB increased its holdings in shares of Enphase Energy by 158.8% in the 4th 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 bought a new position in Enphase Energy in the fourth quarter valued at $41,068,000. Finally, Panagora Asset Management Inc. lifted its position in Enphase Energy by 3,396.9% in the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after buying an additional 255,175 shares during the last quarter. 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.