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

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

Other research analysts also recently issued research reports about the stock. Oppenheimer boosted their target price on shares of Enphase Energy from $133.00 to $134.00 and gave the company an outperform rating in a research note on Wednesday. Truist Financial cut their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research report on Tuesday, April 23rd. Susquehanna restated a positive rating and set a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. KeyCorp reiterated a sector weight rating on shares of Enphase Energy in a report on Thursday, January 4th. Finally, B. Riley raised their price objective on Enphase Energy from $121.00 to $149.00 and gave the stock a buy rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of Hold and an average price target of $137.41.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $111.93 on Wednesday. The firm has a market capitalization of $15.23 billion, a price-to-earnings ratio of 58.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19. The business’s 50 day simple moving average is $117.82 and its 200-day simple moving average is $111.85. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $192.22.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. As a group, equities analysts forecast that Enphase Energy will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. Insiders have sold 54,285 shares of company stock worth $6,148,228 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Donoghue Forlines LLC boosted its stake in Enphase Energy by 4.8% during the 4th quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock valued at $258,000 after acquiring an additional 90 shares during the last quarter. Fermata Advisors LLC lifted its position in shares of Enphase Energy by 1.4% during the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after purchasing an additional 100 shares during the last quarter. Fulton Breakefield Broenniman LLC grew its stake in Enphase Energy by 0.9% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock worth $1,505,000 after purchasing an additional 107 shares in the last quarter. VitalStone Financial LLC increased its holdings in Enphase Energy by 14.3% in the fourth quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 111 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its stake in Enphase Energy by 5.5% during the third quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock valued at $303,000 after buying an additional 131 shares in the last quarter. 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.