Canaccord Genuity Group Trims Enphase Energy (NASDAQ:ENPH) Target Price to $130.00

Enphase Energy (NASDAQ:ENPH) had its target price reduced by analysts at Canaccord Genuity Group from $132.00 to $130.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 14.56% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Oppenheimer lifted their target price on Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a research note on Wednesday. Roth Mkm restated a “buy” rating and issued a $140.00 target price on shares of Enphase Energy in a research note on Thursday, April 18th. Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target on the stock. in a report on Wednesday. Citigroup cut Enphase Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $126.00 to $121.00 in a report on Friday, April 5th. Finally, BMO Capital Markets lifted their price target on Enphase Energy from $106.00 to $110.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and an average price target of $141.82.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $113.48 on Wednesday. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average of $119.28 and a two-hundred day moving average of $111.97. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36. The company has a market cap of $15.43 billion, a P/E ratio of 37.09, a PEG ratio of 3.16 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. As a group, analysts anticipate that Enphase Energy will post 2.01 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the transaction, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares in the company, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Insiders have sold 34,285 shares of company stock worth $4,054,428 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ENPH. Legato Capital Management LLC bought a new stake in shares of Enphase Energy during the 4th quarter worth about $1,542,000. Assenagon Asset Management S.A. boosted its stake in shares of Enphase Energy by 348.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after acquiring an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Enphase Energy during the 4th quarter worth about $566,000. Glenmede Trust Co. NA boosted its stake in shares of Enphase Energy by 92.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after acquiring an additional 1,521 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Enphase Energy by 8.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock worth $17,013,000 after purchasing an additional 10,729 shares during the last quarter. Hedge funds and other 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.