Enphase Energy (NASDAQ:ENPH) Downgraded by Jefferies Financial Group to “Hold”

Enphase Energy (NASDAQ:ENPH) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They currently have a $111.00 price objective on the semiconductor company’s stock, down from their previous price objective of $135.00. Jefferies Financial Group’s price target points to a potential upside of 3.71% from the company’s current price.

Other analysts have also issued reports about the company. DZ Bank assumed coverage on Enphase Energy in a research report on Wednesday, April 17th. They issued a “hold” rating and a $116.00 target price for the company. Canaccord Genuity Group started coverage on Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective for the company. KeyCorp reiterated a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Barclays lifted their price objective on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, Mizuho decreased their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $139.97.

Enphase Energy Price Performance

NASDAQ:ENPH traded down $6.45 during trading hours on Wednesday, reaching $107.03. 7,891,145 shares of the company were exchanged, compared to its average volume of 4,133,403. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. The firm has a market cap of $14.56 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. The stock’s 50-day moving average is $119.28 and its 200-day moving average is $111.97. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $228.36.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. On average, sell-side analysts anticipate that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was acquired at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard Mora sold 24,285 shares of Enphase Energy 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 owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.