Piper Sandler Reaffirms "Neutral" Rating for Enphase Energy (NASDAQ:ENPH)

Enphase Energy (NASDAQ:ENPH - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at Piper Sandler in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $111.00 target price on the semiconductor company's stock, down from their previous target price of $113.00. Piper Sandler's target price suggests a potential upside of 3.57% from the stock's previous close.

A number of other research firms also recently weighed in on ENPH. BMO Capital Markets decreased their price objective on Enphase Energy from $118.00 to $113.00 and set a "market perform" rating on the stock in a report on Wednesday. Royal Bank of Canada initiated coverage on Enphase Energy in a report on Wednesday, February 14th. They issued an "outperform" rating and a $140.00 target price on the stock. Guggenheim downgraded Enphase Energy from a "neutral" rating to a "sell" rating and set a $92.00 target price on the stock. in a report on Wednesday. Susquehanna reissued a "positive" rating and issued a $140.00 target price on shares of Enphase Energy in a report on Friday, April 5th. Finally, Wells Fargo & Company reduced their target price on Enphase Energy from $141.00 to $130.00 and set an "overweight" rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $141.00.

Enphase Energy Price Performance

NASDAQ ENPH traded down $6.31 during trading on Wednesday, reaching $107.17. 10,880,365 shares of the company traded hands, compared to its average volume of 4,175,205. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The stock's 50 day moving average price is $119.28 and its two-hundred day moving average price is $111.97. The company has a market cap of $14.57 billion, a price-to-earnings ratio of 35.02, a P/E/G ratio of 3.16 and a beta of 1.47. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $228.36.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million for 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%. As a group, analysts anticipate that Enphase Energy will post 2.01 EPS for the current year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the company's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP David A. Ranhoff sold 5,000 shares of the company's stock in a transaction on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the completion of the sale, the executive vice president now owns 119,948 shares in the company, valued at approximately $13,948,752.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard Mora sold 24,285 shares of the company'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 completion of the sale, the director now owns 3,126 shares of the company's stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock worth $4,054,428 in the last quarter. Corporate insiders own 3.40% of the company's stock.

Institutional Trading of Enphase Energy

A number of large investors have recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in Enphase Energy by 387,343.1% during the 4th quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company's stock worth $539,102,000 after purchasing an additional 4,078,723 shares in the last quarter. Norges Bank bought a new position in Enphase Energy during the 4th quarter worth about $149,425,000. Nordea Investment Management AB increased its holdings in Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company's stock worth $109,083,000 after purchasing an additional 501,385 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Enphase Energy during the 4th quarter worth about $41,068,000. Finally, Panagora Asset Management Inc. increased its holdings in Enphase Energy by 3,396.9% during the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company's stock worth $34,711,000 after purchasing an additional 255,175 shares in the last quarter. 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.