Piper Sandler lowered shares of Enphase Energy (NASDAQ:ENPH – Get Rating) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $255.00 price objective on the semiconductor company's stock, down from their previous price objective of $350.00.
A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company cut their target price on Enphase Energy from $344.00 to $326.00 and set an overweight rating on the stock in a report on Friday, January 6th. Truist Financial increased their target price on Enphase Energy from $265.00 to $290.00 and gave the stock a buy rating in a report on Tuesday, October 18th. The Goldman Sachs Group raised their price objective on Enphase Energy from $328.00 to $362.00 and gave the company a buy rating in a research note on Wednesday, October 26th. Daiwa Capital Markets assumed coverage on Enphase Energy in a research note on Friday, December 23rd. They set an outperform rating and a $335.00 price objective on the stock. Finally, B. Riley raised their price objective on Enphase Energy from $217.00 to $242.00 in a research note on Wednesday, October 26th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $306.22.
Get Enphase Energy alerts:Enphase Energy Stock Performance
Shares of ENPH stock opened at $210.09 on Tuesday. The company has a market cap of $28.56 billion, a price-to-earnings ratio of 101.01, a price-to-earnings-growth ratio of 1.11 and a beta of 1.38. Enphase Energy has a 52 week low of $113.97 and a 52 week high of $339.92. The company has a quick ratio of 3.34, a current ratio of 3.60 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of $278.91 and a 200-day moving average of $277.54.
Enphase Energy (NASDAQ:ENPH – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The semiconductor company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.77 by $0.11. The company had revenue of $634.71 million during the quarter, compared to the consensus estimate of $616.50 million. Enphase Energy had a net margin of 14.67% and a return on equity of 76.66%. On average, equities analysts forecast that Enphase Energy will post 3.18 earnings per share for the current year.Insider Buying and Selling at Enphase Energy
In other Enphase Energy news, CEO Badrinarayanan Kothandaraman sold 36,327 shares of Enphase Energy stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $327.65, for a total transaction of $11,902,541.55. Following the completion of the transaction, the chief executive officer now owns 1,131,459 shares of the company's stock, valued at approximately $370,722,541.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman sold 36,327 shares of Enphase Energy stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $327.65, for a total transaction of $11,902,541.55. Following the completion of the transaction, the chief executive officer now owns 1,131,459 shares of the company's stock, valued at approximately $370,722,541.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David A. Ranhoff sold 7,500 shares of Enphase Energy stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $303.43, for a total value of $2,275,725.00. Following the transaction, the executive vice president now directly owns 85,402 shares of the company's stock, valued at approximately $25,913,528.86. The disclosure for this sale can be found here. Insiders sold 178,674 shares of company stock valued at $56,558,342 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.
Institutional Trading of Enphase Energy
A number of large investors have recently modified their holdings of ENPH. Panagora Asset Management Inc. boosted its position in shares of Enphase Energy by 42.5% during the 1st quarter. Panagora Asset Management Inc. now owns 4,030 shares of the semiconductor company's stock valued at $813,000 after acquiring an additional 1,201 shares during the last quarter. Raymond James Trust N.A. bought a new stake in Enphase Energy in the 1st quarter worth approximately $249,000. Cibc World Market Inc. lifted its position in Enphase Energy by 219.1% in the 1st quarter. Cibc World Market Inc. now owns 5,320 shares of the semiconductor company's stock worth $1,073,000 after buying an additional 3,653 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Enphase Energy by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 398,666 shares of the semiconductor company's stock worth $80,436,000 after buying an additional 6,401 shares during the last quarter. Finally, Blair William & Co. IL lifted its position in Enphase Energy by 8.7% in the 1st quarter. Blair William & Co. IL now owns 2,263 shares of the semiconductor company's stock worth $457,000 after buying an additional 182 shares during the last quarter. Institutional investors own 73.79% of the company's stock.
Enphase Energy Company Profile
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Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.
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