Enphase Energy (NASDAQ:ENPH) Price Target Cut to $78.00 by Analysts at TD Cowen

Enphase Energy (NASDAQ:ENPH) had its price target reduced by TD Cowen from $94.00 to $78.00 in a research report released on Friday, Marketbeat.com reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

Several other research firms also recently issued reports on ENPH. Morgan Stanley reduced their price target on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price objective on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Truist Financial restated a “hold” rating and issued a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Susquehanna reduced their price target on shares of Enphase Energy from $79.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, Redburn Atlantic began coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $89.06.

Enphase Energy Stock Up 4.7 %

Shares of ENPH stock opened at $51.89 on Friday. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. The firm’s fifty day moving average price is $60.46 and its two-hundred day moving average price is $70.77. The firm has a market capitalization of $6.87 billion, a P/E ratio of 70.12 and a beta of 1.94. Enphase Energy has a 1 year low of $47.48 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities analysts predict that Enphase Energy will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. This represents a 5.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mandy Yang sold 1,319 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 directly owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Leibman Financial Services Inc. boosted its position in Enphase Energy by 1.0% during the first quarter. Leibman Financial Services Inc. now owns 29,474 shares of the semiconductor company’s stock worth $1,829,000 after purchasing an additional 305 shares during the period. Inspire Investing LLC grew its position in shares of Enphase Energy by 2.0% in the fourth quarter. Inspire Investing LLC now owns 15,988 shares of the semiconductor company’s stock valued at $1,098,000 after purchasing an additional 318 shares in the last quarter. McGowan Group Asset Management Inc. lifted its holdings in Enphase Energy by 2.0% during the 4th quarter. McGowan Group Asset Management Inc. now owns 16,670 shares of the semiconductor company’s stock worth $1,145,000 after purchasing an additional 319 shares in the last quarter. GeoWealth Management LLC boosted its stake in Enphase Energy by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 321 shares during the period. Finally, Norinchukin Bank The increased its holdings in Enphase Energy by 6.0% during the 4th quarter. Norinchukin Bank The now owns 5,754 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 328 shares during the period. 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.