Guggenheim Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $90.00

Enphase Energy (NASDAQ:ENPH) had its target price cut by equities research analysts at Guggenheim from $93.00 to $90.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the semiconductor company’s stock. Guggenheim’s price objective would suggest a potential downside of 14.76% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group decreased their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Susquehanna lifted their price target on Enphase Energy from $140.00 to $147.00 and gave the company a “positive” rating in a report on Monday, July 15th. Bank of America cut their price objective on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating on the stock in a report on Wednesday, July 17th. BMO Capital Markets lowered their target price on shares of Enphase Energy from $115.00 to $114.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, William Blair assumed coverage on shares of Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Enphase Energy currently has an average rating of “Hold” and a consensus price target of $127.17.

Enphase Energy Price Performance

Enphase Energy stock traded down $1.21 during midday trading on Friday, reaching $105.58. 1,382,791 shares of the company were exchanged, compared to its average volume of 3,739,231. The firm’s 50-day simple moving average is $113.36 and its 200-day simple moving average is $114.07. 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 $14.37 billion, a price-to-earnings ratio of 54.82, a P/E/G ratio of 6.19 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data 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 net margin of 9.12% and a return on equity of 17.30%. The firm 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. The business’s quarterly revenue was down 57.3% on a year-over-year basis. On average, analysts anticipate that Enphase Energy will post 1.19 EPS for the current year.

Institutional Trading of Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Manchester Capital Management LLC raised its stake in Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 203 shares in the last quarter. Chilton Capital Management LLC boosted its holdings 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 purchasing an additional 246 shares during the period. YHB Investment Advisors Inc. bought a new stake in Enphase Energy during the first quarter valued at $35,000. TFO Wealth Partners LLC raised its holdings in shares of Enphase Energy by 6,720.0% during the fourth quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 336 shares during the period. Finally, Quest Partners LLC lifted its position in shares of Enphase Energy by 11,525.0% in the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after buying an additional 461 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

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.