Enphase Energy (NASDAQ:ENPH) Given Neutral Rating at Piper Sandler

Piper Sandler restated their neutral rating on shares of Enphase Energy (NASDAQ:ENPH) in a report published on Wednesday morning, Benzinga reports. They currently have a $111.00 price objective on the semiconductor company’s stock, down from their previous price objective of $113.00.

Several other analysts have also issued reports on ENPH. Wells Fargo & Company cut their target price on Enphase Energy from $141.00 to $130.00 and set an overweight rating for the company in a research note on Wednesday. Mizuho reduced their target price on shares of Enphase Energy from $150.00 to $148.00 and set a buy rating on the stock in a report on Friday, April 19th. Canaccord Genuity Group started coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a buy rating and a $142.00 price target for the company. StockNews.com cut Enphase Energy from a hold rating to a sell rating in a research note on Wednesday, February 7th. Finally, KeyCorp reissued a sector weight rating on shares of Enphase Energy in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $137.41.

Enphase Energy Stock Performance

Enphase Energy stock opened at $111.93 on Wednesday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16. The stock has a market cap of $15.23 billion, a P/E ratio of 58.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.47. The firm’s fifty day moving average price is $117.82 and its 200-day moving average price is $111.85.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The business had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. On average, equities research analysts expect that Enphase Energy will post 1.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,285 shares of company stock worth $6,148,228. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in ENPH. Bogart Wealth LLC purchased a new position in Enphase Energy in the 4th quarter worth approximately $26,000. CVA Family Office LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth $31,000. YHB Investment Advisors Inc. purchased a new position in shares of Enphase Energy in the first quarter worth $35,000. Parkside Financial Bank & Trust lifted its holdings in shares of Enphase Energy by 131.3% during the third 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 in the last quarter. Finally, Covestor Ltd boosted its position in shares of Enphase Energy by 61.6% during the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.