Enphase Energy (NASDAQ:ENPH) PT Lowered to $85.00

Enphase Energy (NASDAQ:ENPH) had its price target dropped by Susquehanna from $104.00 to $85.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s target price suggests a potential upside of 1.40% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Piper Sandler dropped their target price on Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group reduced their target price on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada dropped their price target on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective for the company. in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Stock Up 3.4 %

ENPH stock opened at $83.83 on Thursday. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 43.66, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The company has a fifty day moving average price of $108.44 and a 200 day moving average price of $111.79.

Enphase Energy (NASDAQ:ENPH) last announced 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). The business had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. Sell-side analysts expect that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after acquiring an additional 2,304,408 shares during the period. Swedbank AB acquired a new stake in shares of Enphase Energy during the first quarter worth $424,130,000. Electron Capital Partners LLC grew its position 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 purchasing an additional 1,078,154 shares during the period. Nordea Investment Management AB increased its stake in Enphase Energy by 11.1% in the first quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after purchasing an additional 90,558 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Enphase Energy by 17.6% during the second quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock worth $82,434,000 after buying an additional 123,856 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

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.