TD Cowen Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $58.00

Enphase Energy (NASDAQ:ENPH) had its price target reduced by equities research analysts at TD Cowen from $78.00 to $58.00 in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price target would suggest a potential upside of 8.55% from the stock’s previous close.

Other analysts also recently issued reports about the company. Susquehanna cut their target price on Enphase Energy from $76.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley reduced their price target on shares of Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Guggenheim raised Enphase Energy from a “sell” rating to a “neutral” rating and set a $62.00 target price for the company in a research note on Friday, January 31st. Barclays reduced their price objective on shares of Enphase Energy from $86.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Oppenheimer lifted their price target on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $79.13.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $53.43 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 72.20 and a beta of 1.94. The firm’s 50 day simple moving average is $58.95 and its 200-day simple moving average is $68.26. Enphase Energy has a 12 month low of $46.60 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Analysts expect that Enphase Energy will post 2.08 EPS for the current year.

Insiders Place Their Bets

In related news, Director Thurman J. Rodgers sold 100,000 shares of Enphase Energy stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares in the company, valued at $115,276,617.60. The trade was a 5.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mandy Yang sold 1,319 shares of Enphase Energy stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of Enphase Energy

Institutional investors have recently made changes to their positions in the stock. CX Institutional purchased a new position in shares of Enphase Energy in the 1st quarter valued at $29,000. Venturi Wealth Management LLC boosted its stake in shares of Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Enphase Energy in the fourth quarter valued at $47,000. GeoWealth Management LLC boosted its stake in Enphase Energy by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 321 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new position in Enphase Energy during the 4th quarter worth $69,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.