Enphase Energy (NASDAQ:ENPH) Price Target Cut to $120.00

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by TD Cowen from $130.00 to $120.00 in a research report report published on Wednesday, Marketbeat.com reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

ENPH has been the subject of several other research reports. Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a report on Wednesday. Barclays cut their price target on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price target (up previously from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Craig Hallum raised their price target on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup dropped their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $83.83 on Wednesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. 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 firm has a fifty day simple moving average of $108.44 and a 200 day simple moving average of $111.72. The stock has a market capitalization of $11.35 billion, a PE ratio of 190.52, a P/E/G ratio of 8.07 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share 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 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 business posted $0.84 earnings per share. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. On average, research analysts expect that Enphase Energy will post 1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Manchester Capital Management LLC grew its position 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 valued at $27,000 after acquiring 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 valued at $31,000 after acquiring an additional 246 shares during 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 valued at $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC bought a new position in Enphase Energy in the third quarter valued at about $34,000. Finally, Quest Partners LLC grew its holdings in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the last quarter. 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.