Enphase Energy (NASDAQ:ENPH) Rating Lowered to “Neutral” at Mizuho

Enphase Energy (NASDAQ:ENPH) was downgraded by investment analysts at Mizuho from an “outperform” rating to a “neutral” rating in a report issued on Thursday, MarketBeat reports. They presently have a $37.00 target price on the semiconductor company’s stock, down from their previous target price of $50.00. Mizuho’s target price suggests a potential upside of 2.13% from the company’s current price.

Several other analysts have also recently issued reports on ENPH. JPMorgan Chase & Co. increased their price target on shares of Enphase Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Bank of America cut their target price on shares of Enphase Energy from $31.00 to $30.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 23rd. Oppenheimer cut their target price on shares of Enphase Energy from $77.00 to $73.00 and set an “outperform” rating on the stock in a research note on Thursday, October 9th. Johnson Rice lowered shares of Enphase Energy from a “buy” rating to an “accumulate” rating and set a $45.00 target price on the stock. in a research note on Wednesday, July 30th. Finally, Citigroup upped their target price on shares of Enphase Energy from $30.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and thirteen have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $46.37.

Enphase Energy Trading Up 1.7%

NASDAQ ENPH opened at $36.23 on Thursday. The firm’s 50-day moving average is $37.14 and its two-hundred day moving average is $40.45. Enphase Energy has a 12 month low of $29.89 and a 12 month high of $89.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.82. The stock has a market capitalization of $4.74 billion, a P/E ratio of 28.30 and a beta of 1.56.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $363.15 million for the quarter, compared to analysts’ expectations of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 earnings per share. On average, sell-side analysts anticipate that Enphase Energy will post 2.08 earnings per share for the current year.

Insider Activity

In other news, CEO Badrinarayanan Kothandaraman purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $30.82 per share, with a total value of $154,100.00. Following the purchase, the chief executive officer directly owned 1,620,632 shares of the company’s stock, valued at $49,947,878.24. This represents a 0.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock worth $35,000 after buying an additional 258 shares during the last quarter. SVB Wealth LLC purchased a new stake in Enphase Energy during the 1st quarter worth about $38,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Enphase Energy by 431.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 514 shares in the last quarter. Brooklyn Investment Group increased its position in Enphase Energy by 124.7% during the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 368 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its position in Enphase Energy by 761.0% during the 3rd quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 761 shares in the last quarter. Institutional investors and hedge funds 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.