Enphase Energy (NASDAQ:ENPH) Stock Rating Lowered by Royal Bank of Canada

Enphase Energy (NASDAQ:ENPH) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They currently have a $100.00 target price on the semiconductor company’s stock, down from their previous target price of $125.00. Royal Bank of Canada’s price objective points to a potential upside of 7.38% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Craig Hallum boosted their price target on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets dropped their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday. Roth Mkm reissued a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, July 24th. Guggenheim dropped their price target on shares of Enphase Energy from $93.00 to $90.00 and set a “sell” rating for the company in a research note on Friday, October 4th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $115.00 price target (up from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.49.

Enphase Energy Trading Up 1.2 %

Shares of NASDAQ ENPH opened at $93.13 on Tuesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The company has a market cap of $12.67 billion, a PE ratio of 48.51, a P/E/G ratio of 5.57 and a beta of 1.72. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average of $111.92 and a two-hundred day moving average of $113.20.

Enphase Energy (NASDAQ:ENPH) last announced its 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 the consensus estimate of $309.73 million. During the same period in the prior year, the firm posted $1.16 earnings per share. The company’s revenue was down 57.3% on a year-over-year basis. As a group, equities analysts expect that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Enphase Energy by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after acquiring an additional 192,854 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the period. Swedbank AB bought a new position in shares of Enphase Energy in the first quarter valued at about $424,130,000. Electron Capital Partners LLC raised its position in shares of Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Enphase Energy by 11.1% in the first quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after purchasing an additional 90,558 shares during the period. 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.