Enphase Energy (NASDAQ:ENPH) Stock Rating Reaffirmed by Piper Sandler

Enphase Energy (NASDAQ:ENPH)‘s stock had its “neutral” rating reiterated by equities researchers at Piper Sandler in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $111.00 price target on the semiconductor company’s stock, down from their previous price target of $113.00. Piper Sandler’s price objective indicates a potential upside of 2.94% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. TD Cowen upped their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company lowered their target price on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays raised their target price on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Susquehanna restated a “positive” rating and issued a $140.00 price target on shares of Enphase Energy in a report on Friday, April 5th. Finally, Truist Financial dropped their price objective 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, fourteen have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $141.00.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $107.83 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.59 and a quick ratio of 4.19. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22. The firm has a market capitalization of $14.66 billion, a P/E ratio of 56.16, a P/E/G ratio of 3.24 and a beta of 1.47. The business’s 50-day simple moving average is $118.79 and its 200-day simple moving average is $111.93.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results 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. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Equities analysts predict that Enphase Energy will post 2.01 EPS for the current year.

Insiders Place Their Bets

In other news, EVP David A. Ranhoff sold 5,000 shares of the 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 in the company, valued at approximately $13,605,587.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy 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 sale, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the transaction, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold 34,285 shares of company stock valued at $4,054,428 over the last quarter. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of Enphase Energy by 6.3% in the third quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock valued at $485,000 after acquiring an additional 239 shares in the last quarter. AE Wealth Management LLC boosted its stake in Enphase Energy by 24.3% during the 3rd quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock valued at $1,795,000 after purchasing an additional 2,921 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Enphase Energy by 108.3% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 325 shares during the period. Exchange Traded Concepts LLC raised its stake 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 worth $162,000 after buying an additional 820 shares in the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of Enphase Energy in the third quarter valued at $259,000. 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.