Enphase Energy (NASDAQ:ENPH) Downgraded by Mizuho to “Neutral”

Enphase Energy (NASDAQ:ENPH) was downgraded by analysts at Mizuho from an “outperform” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat.com reports. They currently have a $37.00 target price on the semiconductor company’s stock. Mizuho’s price target would suggest a potential upside of 2.55% from the stock’s current price.

ENPH has been the topic of a number of other reports. Wall Street Zen upgraded Enphase Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 30th. Susquehanna decreased their target price on shares of Enphase Energy from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. TD Cowen decreased their target price on shares of Enphase Energy from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Enphase Energy from $49.00 to $42.00 and set a “hold” rating for the company in a research report on Thursday, July 24th. Finally, Zacks Research upgraded Enphase Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and thirteen have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $46.37.

Enphase Energy Stock Down 2.7%

Shares of NASDAQ ENPH opened at $36.08 on Thursday. The firm has a market cap of $4.72 billion, a PE ratio of 28.19 and a beta of 1.56. Enphase Energy has a 12-month low of $29.89 and a 12-month high of $89.95. The company’s fifty day simple moving average is $37.05 and its 200 day simple moving average is $40.68. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%.The firm had revenue of $363.15 million during the quarter, compared to analysts’ expectations of $359.14 million. During the same quarter last year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the completion of the acquisition, the chief executive officer owned 1,620,632 shares in the company, valued at $49,947,878.24. This trade represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in shares of Enphase Energy by 83.0% during the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 258 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Enphase Energy during the first quarter valued at approximately $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 514 shares during the period. Brooklyn Investment Group grew its stake in Enphase Energy by 124.7% in the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 368 shares during the period. Finally, Salomon & Ludwin LLC grew its stake in Enphase Energy by 761.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 761 shares during the period. 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.