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

Piper Sandler reaffirmed their neutral rating on shares of Enphase Energy (NASDAQ:ENPH) in a research report sent to investors on Wednesday morning, Benzinga reports. Piper Sandler currently has a $111.00 target price on the semiconductor company’s stock, down from their previous target price of $113.00.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company dropped their target price on shares of Enphase Energy from $141.00 to $130.00 and set an overweight rating on the stock in a report on Wednesday. Susquehanna restated a positive rating and set a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. Barclays boosted their price objective on shares of Enphase Energy from $106.00 to $115.00 and gave the stock an equal weight rating in a report on Thursday, February 8th. JPMorgan Chase & Co. dropped their price objective on shares of Enphase Energy from $141.00 to $128.00 and set an overweight rating on the stock in a report on Wednesday. Finally, KeyCorp restated a sector weight rating on shares of Enphase Energy in a report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $141.00.

Enphase Energy Stock Performance

Shares of ENPH opened at $107.17 on Wednesday. The company has a market capitalization of $14.57 billion, a PE ratio of 55.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. Enphase Energy has a one year low of $73.49 and a one year high of $228.36. 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 company’s fifty day moving average price is $119.28 and its 200 day moving average price is $111.97.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. As a group, analysts expect that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Transactions at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the sale, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction that occurred 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 directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.89, for a total transaction of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,285 shares of company stock worth $4,054,428. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bogart Wealth LLC bought a new stake in Enphase Energy in the fourth quarter valued at approximately $26,000. CVA Family Office LLC bought a new stake in Enphase Energy in the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust increased its stake in Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 176 shares in the last quarter. Covestor Ltd increased its stake in Enphase Energy by 61.6% in the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares in the last quarter. Finally, Addison Advisors LLC increased its stake in Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 304 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

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.