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

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its target price reduced by research analysts at TD Cowen from $94.00 to $78.00 in a report issued on Friday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. TD Cowen's target price points to a potential upside of 49.97% from the stock's current price.

Other equities analysts have also issued reports about the company. BMO Capital Markets lowered their target price on Enphase Energy from $69.00 to $66.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Canaccord Genuity Group raised shares of Enphase Energy from a "hold" rating to a "buy" rating and raised their price objective for the company from $76.00 to $82.00 in a research note on Wednesday, February 5th. Jefferies Financial Group lowered their target price on shares of Enphase Energy from $54.00 to $44.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group cut their price target on Enphase Energy from $121.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on Enphase Energy from $112.00 to $91.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $87.56.

Remove Ads

Enphase Energy Trading Down 2.0 %

ENPH stock traded down $1.06 during mid-day trading on Friday, reaching $52.01. The company's stock had a trading volume of 1,042,714 shares, compared to its average volume of 3,974,006. The business's 50 day moving average price is $59.97 and its 200 day moving average price is $70.23. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 70.28 and a beta of 1.94. The company has a current ratio of 3.53, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Enphase Energy has a 12 month low of $47.48 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly 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, equities research analysts predict that Enphase Energy will post 2.08 EPS for the current year.

Insider Activity

In related news, CFO Mandy Yang sold 1,319 shares of the 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 transaction, the chief financial officer now owns 78,524 shares of the company's stock, valued at approximately $4,972,139.68. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thurman J. Rodgers sold 100,000 shares of the business's 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 completion of the sale, the director now directly owns 1,881,760 shares of the company's stock, valued at $115,276,617.60. This represents a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its position in Enphase Energy by 72.7% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company's stock valued at $1,305,000 after purchasing an additional 8,000 shares during the last quarter. Norges Bank bought a new stake in Enphase Energy during the 4th quarter valued at $46,339,000. Nordea Investment Management AB boosted its position in Enphase Energy by 131.6% during 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 during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Enphase Energy in the 4th quarter worth $5,324,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Enphase Energy during the fourth quarter valued at about $584,000. 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.