Enphase Energy (NASDAQ:ENPH) Price Target Cut to $114.00 by Analysts at BMO Capital Markets

Enphase Energy (NASDAQ:ENPH) had its price objective cut by research analysts at BMO Capital Markets from $115.00 to $114.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 6.22% from the company’s current price.

A number of other analysts have also recently weighed in on ENPH. Susquehanna boosted their price target on Enphase Energy from $140.00 to $147.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. Piper Sandler boosted their price target on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Canaccord Genuity Group reduced their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Craig Hallum boosted their price target on Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America cut their price objective on Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $128.86.

Enphase Energy Stock Down 3.5 %

NASDAQ ENPH traded down $3.88 on Wednesday, reaching $107.32. The stock had a trading volume of 1,496,786 shares, compared to its average volume of 3,757,865. The business has a 50 day moving average price of $113.60 and a 200 day moving average price of $114.13. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 56.61, a P/E/G ratio of 6.19 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. During the same period in the prior year, the firm earned $1.16 EPS. Enphase Energy’s quarterly revenue was down 57.3% on a year-over-year basis. On average, analysts forecast that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently modified their holdings of the stock. Benjamin Edwards Inc. raised its stake in shares of Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after buying an additional 93 shares during the period. Fermata Advisors LLC raised its position in Enphase Energy by 1.4% during the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 100 shares in the last quarter. Hollencrest Capital Management lifted its position in Enphase Energy by 3.3% during the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Enphase Energy by 0.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after buying an additional 100 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Enphase Energy by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after purchasing an additional 106 shares during the last quarter. 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.