Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $31.11 at Glj Research

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price objective dropped by analysts at Glj Research from $50.69 to $31.11 in a research note issued on Friday,Benzinga reports. The firm currently has a "sell" rating on the semiconductor company's stock. Glj Research's price target points to a potential downside of 31.92% from the company's previous close.

A number of other research firms have also recently issued reports on ENPH. Redburn Atlantic began coverage on shares of Enphase Energy in a research report on Monday, March 3rd. They set a "neutral" rating on the stock. BMO Capital Markets cut their price target on Enphase Energy from $59.00 to $46.00 and set a "market perform" rating on the stock in a report on Wednesday. Citigroup restated a "sell" rating and set a $47.00 price objective on shares of Enphase Energy in a report on Thursday, April 17th. Wells Fargo & Company cut their target price on Enphase Energy from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Barclays decreased their price target on shares of Enphase Energy from $58.00 to $51.00 and set an "overweight" rating for the company in a research note on Friday. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $70.54.

Enphase Energy Trading Down 0.1 %

ENPH stock traded down $0.06 during midday trading on Friday, hitting $45.69. The stock had a trading volume of 410,436 shares, compared to its average volume of 4,036,210. 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 business has a fifty day moving average price of $58.22 and a two-hundred day moving average price of $67.68. Enphase Energy has a 1-year low of $44.69 and a 1-year high of $141.63. The firm has a market cap of $6.05 billion, a P/E ratio of 61.81 and a beta of 1.94.

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

Insider Activity at Enphase Energy

In other news, Director Thurman J. Rodgers sold 100,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the director now directly owns 1,881,760 shares of the company's stock, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mandy Yang sold 1,319 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now directly owns 78,524 shares in the company, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Enphase Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after buying an additional 44,782 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Enphase Energy by 32.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock worth $574,975,000 after purchasing an additional 2,028,691 shares during the last quarter. Invesco Ltd. lifted its stake 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 worth $313,034,000 after purchasing an additional 1,378,978 shares during the last quarter. Geode Capital Management LLC boosted its position in Enphase Energy by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after purchasing an additional 47,593 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company's stock valued at $155,360,000 after purchasing an additional 1,258,778 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.

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