Enphase Energy (NASDAQ:ENPH) Price Target Cut to $51.00 by Analysts at Barclays

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price objective lowered by stock analysts at Barclays from $58.00 to $51.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the semiconductor company's stock. Barclays's price objective would suggest a potential upside of 11.48% from the stock's previous close.

ENPH has been the subject of a number of other research reports. Craig Hallum lowered their price objective on Enphase Energy from $123.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company cut their price target on shares of Enphase Energy from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their price objective on Enphase Energy from $90.00 to $77.00 and set a "buy" rating on the stock in a research note on Wednesday. Mizuho dropped their target price on shares of Enphase Energy from $81.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, BMO Capital Markets reduced their price target on shares of Enphase Energy from $59.00 to $46.00 and set a "market perform" rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $71.24.

Enphase Energy Price Performance

ENPH opened at $45.75 on Friday. The company has a 50 day moving average of $58.22 and a two-hundred day moving average of $67.68. Enphase Energy has a 52-week low of $44.88 and a 52-week 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. The company has a market cap of $6.06 billion, a P/E ratio of 61.83 and a beta of 1.94.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating 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, analysts expect that Enphase Energy will post 2.08 earnings per share for the current year.

Insider Buying and Selling

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the completion of the sale, the director now owns 1,881,760 shares in the company, valued at $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 is available through this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total transaction of $83,519.08. Following 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. Company insiders own 3.10% of the company's stock.

Institutional Trading of Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock valued at $574,975,000 after purchasing an additional 2,028,691 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Enphase Energy by 43.4% during the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after buying an additional 1,378,978 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock valued at $155,360,000 after buying an additional 1,258,778 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Enphase Energy by 531.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company's stock valued at $55,342,000 after buying an additional 678,163 shares in the last quarter. Finally, Norges Bank acquired a new position in Enphase Energy in the fourth quarter worth approximately $46,339,000. 72.12% of the stock is currently owned by hedge funds and other 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.

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