Enphase Energy (NASDAQ:ENPH) PT Lowered to $93.00

Enphase Energy (NASDAQ:ENPH) had its price target decreased by Morgan Stanley from $102.00 to $93.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective suggests a potential upside of 14.67% from the stock’s previous close.

ENPH has been the subject of a number of other reports. Bank of America upped their price target on shares of Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday. Craig Hallum lifted their price target on shares of Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Susquehanna downgraded Enphase Energy from a “positive” rating to a “neutral” rating and cut their price objective for the company from $147.00 to $104.00 in a research report on Wednesday, October 16th. Finally, Guggenheim cut Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price on the stock. in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average target price of $111.26.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $81.10 on Wednesday. The stock has a market cap of $11.03 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The stock’s 50 day moving average price is $109.09 and its 200 day moving average price is $112.01.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. Equities research analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors have recently made changes to their positions in the company. Manchester Capital Management LLC increased its holdings in Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after buying an additional 203 shares during the last quarter. Chilton Capital Management LLC grew its position in Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 246 shares in the last quarter. UMB Bank n.a. grew its position in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Enphase Energy during the 3rd quarter worth $34,000. Finally, Blue Trust Inc. raised its holdings in shares of Enphase Energy by 109.1% during the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 228 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.