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

Enphase Energy (NASDAQ:ENPH) had its target price decreased by Barclays from $129.00 to $114.00 in a research note issued to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the semiconductor company’s stock.

Several other brokerages have also commented on ENPH. Janney Montgomery Scott lowered Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Wednesday. Raymond James dropped their price objective on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday. BMO Capital Markets decreased their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Jefferies Financial Group restated a “hold” rating and issued a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Finally, Glj Research started coverage on Enphase Energy in a research report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 target price on the stock. Three 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, the company currently has an average rating of “Hold” and an average target price of $111.26.

Enphase Energy Stock Up 3.4 %

Shares of ENPH opened at $83.83 on Wednesday. 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 12 month low of $73.49 and a 12 month high of $141.63. The stock’s 50 day moving average is $108.44 and its two-hundred day moving average is $111.72. The firm has a market cap of $11.35 billion, a P/E ratio of 190.52, a PEG ratio of 8.07 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.57%. The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same period in the previous year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. Analysts predict that Enphase Energy will post 1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in shares of Enphase Energy in the first quarter valued at $424,130,000. Baillie Gifford & Co. grew its stake 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 buying an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC grew its stake 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 buying an additional 1,078,154 shares in the last quarter. Anomaly Capital Management LP acquired a new stake in shares of Enphase Energy in the second quarter valued at $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Enphase Energy in the first quarter valued at $59,128,000. Hedge funds and other institutional investors 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.