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

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by Royal Bank of Canada from $140.00 to $130.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 21.46% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. B. Riley lifted their price objective on Enphase Energy from $121.00 to $149.00 and gave the company a “buy” rating in a research note on Monday. Canaccord Genuity Group cut their price target on Enphase Energy from $132.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays upped their price target on Enphase Energy from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Canaccord Genuity Group started coverage on Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target for the company. Finally, DZ Bank began coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They set a “hold” rating and a $116.00 price target for the company. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $139.97.

Enphase Energy Price Performance

Shares of NASDAQ ENPH traded down $6.45 during trading on Wednesday, hitting $107.03. The company had a trading volume of 7,891,145 shares, compared to its average volume of 4,133,403. The stock has a fifty day simple moving average of $119.28 and a two-hundred day simple moving average of $111.97. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32.

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 the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. On average, research analysts expect that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Transactions at Enphase Energy

In other Enphase Energy news, 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 sale, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $116.29, for a total value of $581,450.00. Following the sale, the executive vice president now directly owns 119,948 shares in the company, valued at approximately $13,948,752.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,285 shares of company stock worth $4,054,428. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of ENPH. Bogart Wealth LLC purchased a new position in shares of Enphase Energy in the fourth quarter worth $26,000. CVA Family Office LLC bought a new stake in Enphase Energy in the fourth quarter worth $31,000. Parkside Financial Bank & Trust increased its position in Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares during the last quarter. Covestor Ltd increased its position in Enphase Energy by 61.6% during the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares during the last quarter. Finally, Addison Advisors LLC grew its holdings in shares of Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 304 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.