Royal Bank of Canada Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $130.00

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by Royal Bank of Canada from $140.00 to $130.00 in a research note published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the stock. Roth Mkm reiterated a buy rating and set a $140.00 price target on shares of Enphase Energy in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Enphase Energy from $141.00 to $128.00 and set an overweight rating on the stock in a research note on Wednesday. Canaccord Genuity Group decreased their price target on shares of Enphase Energy from $132.00 to $130.00 and set a buy rating on the stock in a research note on Wednesday. Barclays lifted their price target on shares of Enphase Energy from $106.00 to $115.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. Finally, Truist Financial decreased their price target on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Enphase Energy presently has an average rating of Hold and an average target price of $137.41.

Enphase Energy Trading Up 3.8 %

Shares of Enphase Energy stock opened at $111.93 on Wednesday. The company’s fifty day simple moving average is $118.22 and its 200-day simple moving average is $111.90. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.17 and a beta of 1.47. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. The business 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 31.89%. As a group, sell-side analysts expect that Enphase Energy will post 1.96 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. In the last three months, insiders sold 54,285 shares of company stock valued at $6,148,228. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently modified their holdings of ENPH. CWM LLC increased its stake in shares of Enphase Energy by 6.3% in the 3rd quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock valued at $485,000 after acquiring an additional 239 shares during the last quarter. AE Wealth Management LLC increased its stake in shares of Enphase Energy by 24.3% in the 3rd quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock valued at $1,795,000 after acquiring an additional 2,921 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Enphase Energy by 108.3% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock valued at $75,000 after acquiring an additional 325 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Enphase Energy by 155.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock valued at $162,000 after purchasing an additional 820 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of Enphase Energy in the 3rd quarter valued at approximately $259,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Company Profile

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.