Enphase Energy (NASDAQ:ENPH) PT Lowered to $125.00 at Royal Bank of Canada

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

A number of other research analysts also recently weighed in on the company. Canaccord Genuity Group decreased their price target on Enphase Energy from $150.00 to $140.00 and set a buy rating for the company in a research note on Wednesday. Susquehanna raised their price objective on Enphase Energy from $140.00 to $147.00 and gave the company a positive rating in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their price objective on Enphase Energy from $124.00 to $130.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. Barclays cut their price objective on Enphase Energy from $134.00 to $131.00 and set an overweight rating for the company in a research report on Friday, July 12th. Finally, DZ Bank assumed coverage on Enphase Energy in a research report on Wednesday, April 17th. They issued a hold rating and a $116.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $129.70.

Enphase Energy Stock Up 1.5 %

ENPH stock opened at $119.34 on Wednesday. The company has a quick ratio of 3.78, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The business has a 50 day moving average price of $115.21 and a two-hundred day moving average price of $115.31. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 62.16, a P/E/G ratio of 5.40 and a beta of 1.71. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $175.59.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 earnings per share. Analysts anticipate that Enphase Energy will post 1.31 EPS for the current fiscal year.

Insider Activity

In other Enphase Energy news, CFO Mandy Yang acquired 4,000 shares of the company’s 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 purchase, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Enphase Energy news, CFO Mandy Yang acquired 4,000 shares of the company’s 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 purchase, the chief financial officer now directly owns 62,973 shares of the company’s stock, valued at $6,564,305.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 1,984,562 shares in the company, valued at $251,106,629.86. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after buying an additional 192,854 shares during the period. Baillie Gifford & Co. raised its stake in Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after buying an additional 2,304,408 shares during the period. Swedbank AB acquired a new position in Enphase Energy during the 1st quarter worth approximately $424,130,000. Northern Trust Corp raised its stake in Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after buying an additional 3,940 shares during the period. Finally, Norges Bank acquired a new position in Enphase Energy during the 4th quarter worth approximately $149,425,000. 72.12% of the stock is owned by institutional investors and hedge funds.

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.