Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $148.00 at Mizuho

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by analysts at Mizuho from $150.00 to $148.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Mizuho’s price target suggests a potential upside of 37.88% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Truist Financial upgraded Enphase Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $145.00 in a report on Tuesday, January 23rd. Wells Fargo & Company upgraded Enphase Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $98.00 to $141.00 in a report on Monday, January 8th. Canaccord Genuity Group began coverage on Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 target price on the stock. Barclays lifted their target price on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, KeyCorp restated a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $149.88.

Enphase Energy Price Performance

Enphase Energy stock traded down $1.83 during mid-day trading on Friday, hitting $107.34. 1,780,382 shares of the company were exchanged, compared to its average volume of 4,042,085. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. The business’s 50 day simple moving average is $120.17 and its two-hundred day simple moving average is $112.17. The company has a market capitalization of $14.60 billion, a P/E ratio of 35.18, a PEG ratio of 3.10 and a beta of 1.47. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $228.36.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Analysts forecast that Enphase Energy will post 2.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard Mora sold 24,285 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,285 shares of company stock valued at $4,054,428. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. Bogart Wealth LLC acquired a new position in shares of Enphase Energy in the fourth quarter worth $26,000. LM Advisors LLC acquired a new position in shares of Enphase Energy in the fourth quarter worth $26,000. KB Financial Partners LLC acquired a new position in shares of Enphase Energy in the first quarter worth $28,000. First Capital Advisors Group LLC. acquired a new position in shares of Enphase Energy in the second quarter worth $28,000. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of Enphase Energy in the fourth quarter worth $29,000. 72.12% of the stock is owned by institutional investors and hedge funds.

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.