Royal Bank of Canada Trims Enphase Energy (NASDAQ:ENPH) Target Price to $125.00

Enphase Energy (NASDAQ:ENPH) had its price objective cut by Royal Bank of Canada from $130.00 to $125.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other equities analysts also recently issued reports on ENPH. Canaccord Genuity Group lowered their price objective on Enphase Energy from $150.00 to $140.00 and set a buy rating for the company in a research report on Wednesday. BMO Capital Markets upped their price target on shares of Enphase Energy from $110.00 to $115.00 and gave the company a market perform rating in a research report on Wednesday. B. Riley lifted their price objective on Enphase Energy from $121.00 to $149.00 and gave the stock a buy rating in a research report on Monday, April 22nd. Canaccord Genuity Group lowered their target price on Enphase Energy from $150.00 to $140.00 and set a buy rating for the company in a report on Wednesday. Finally, Guggenheim increased their price target on Enphase Energy from $92.00 to $93.00 and gave the stock a sell rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $129.70.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $119.34 on Wednesday. The firm has a market capitalization of $16.16 billion, a price-to-earnings ratio of 62.16, a PEG ratio of 5.82 and a beta of 1.71. The company has a current ratio of 4.23, a quick ratio of 3.78 and a debt-to-equity ratio of 1.36. The business’s 50-day moving average price is $115.31 and its 200-day moving average price is $115.32. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $175.59.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. The firm’s quarterly revenue was down 57.3% on a year-over-year basis. Equities research analysts forecast that Enphase Energy will post 1.24 EPS for the current year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, CFO Mandy Yang purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the transaction, the chief financial officer now owns 62,973 shares of the company’s stock, valued at approximately $6,564,305.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Enphase Energy news, Director Thurman J. Rodgers sold 319,526 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $126.53, for a total value of $40,429,624.78. Following the transaction, the director now directly owns 1,984,562 shares in the company, valued at $251,106,629.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mandy Yang bought 4,000 shares of Enphase Energy stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $104.24 per share, with a total value of $416,960.00. Following the completion of the transaction, the chief financial officer now directly owns 62,973 shares in the company, valued at $6,564,305.52. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors have recently bought and sold shares of ENPH. Bogart Wealth LLC bought a new stake in shares of Enphase Energy in the fourth quarter valued at $26,000. Manchester Capital Management LLC increased its holdings in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 203 shares during the last quarter. CVA Family Office LLC purchased a new stake in Enphase Energy in the 4th quarter worth about $31,000. Chilton Capital Management LLC raised its stake in Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new stake in Enphase Energy during the first quarter valued at about $35,000. Hedge funds and other 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.