Jefferies Financial Group Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $44.00

Enphase Energy (NASDAQ:ENPH) had its price target decreased by Jefferies Financial Group from $54.00 to $44.00 in a research report released on Thursday morning,Benzinga reports. Jefferies Financial Group currently has an underperform rating on the semiconductor company’s stock.

A number of other research analysts have also recently issued reports on the company. Citigroup cut Enphase Energy from a “neutral” rating to a “negative” rating in a report on Wednesday, March 26th. Wells Fargo & Company reduced their price target on Enphase Energy from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Barclays decreased their price objective on shares of Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. Finally, Redburn Atlantic started coverage on Enphase Energy in a report on Monday, March 3rd. They set a “neutral” rating for the company. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $89.79.

Enphase Energy Trading Down 2.6 %

Shares of NASDAQ ENPH opened at $57.27 on Thursday. The business has a fifty day simple moving average of $62.00 and a 200-day simple moving average of $73.90. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 77.39 and a beta of 2.12. Enphase Energy has a 12 month low of $51.63 and a 12 month high of $141.63. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Sell-side analysts predict that Enphase Energy will post 2.08 EPS for the current year.

Insider Activity

In other news, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the completion of the sale, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the sale, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in Enphase Energy by 5.7% during the third quarter. FMR LLC now owns 1,036,699 shares of the semiconductor company’s stock worth $117,168,000 after acquiring an additional 56,136 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Enphase Energy by 11.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,821 shares of the semiconductor company’s stock worth $658,000 after purchasing an additional 600 shares in the last quarter. Investment Management Corp of Ontario raised its holdings in shares of Enphase Energy by 106.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 6,379 shares of the semiconductor company’s stock worth $721,000 after purchasing an additional 3,294 shares in the last quarter. Motley Fool Asset Management LLC acquired a new stake in Enphase Energy during the third quarter valued at approximately $206,000. Finally, Royal London Asset Management Ltd. boosted its holdings in Enphase Energy by 9.2% during the third quarter. Royal London Asset Management Ltd. now owns 56,852 shares of the semiconductor company’s stock worth $6,425,000 after buying an additional 4,789 shares in the last quarter. 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.