Bank of America Raises Enphase Energy (NASDAQ:ENPH) Price Target to $84.00

Enphase Energy (NASDAQ:ENPH) had its target price raised by Bank of America from $82.00 to $84.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an underperform rating on the semiconductor company’s stock.

ENPH has been the topic of several other reports. JPMorgan Chase & Co. increased their price objective on Enphase Energy from $124.00 to $130.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. Canaccord Genuity Group cut their price target on Enphase Energy from $150.00 to $140.00 and set a buy rating for the company in a report on Wednesday, July 24th. Barclays dropped their price objective on shares of Enphase Energy from $131.00 to $129.00 and set an overweight rating for the company in a research note on Thursday, July 25th. Glj Research began coverage on Enphase Energy in a report on Tuesday, June 25th. They issued a sell rating and a $45.82 price target on the stock. Finally, William Blair assumed coverage on Enphase Energy in a report on Thursday, August 29th. They issued a market perform rating for the company. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy presently has an average rating of Hold and an average target price of $126.99.

Enphase Energy Stock Performance

Enphase Energy stock opened at $100.97 on Thursday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The firm’s fifty day moving average price is $112.35 and its 200-day moving average price is $113.68. The stock has a market cap of $13.74 billion, a P/E ratio of 52.59, a price-to-earnings-growth ratio of 5.57 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 announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) 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 firm had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. During the same period last year, the business earned $1.16 EPS. Enphase Energy’s revenue was down 57.3% on a year-over-year basis. On average, equities research analysts expect that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC grew 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 valued at $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC raised its holdings in shares of Enphase Energy by 2,733.3% in the 1st 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. UMB Bank n.a. lifted its stake in shares of Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares in the last quarter. Quest Partners LLC raised its stake 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 valued at $46,000 after acquiring an additional 461 shares during the period. Finally, Mather Group LLC. grew its stake in shares of Enphase Energy by 1,727.6% in the second quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 501 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.