Enphase Energy (NASDAQ:ENPH) Price Target Cut to $123.00

Enphase Energy (NASDAQ:ENPH) had its target price trimmed by Craig Hallum from $153.00 to $123.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

ENPH has been the subject of a number of other reports. JPMorgan Chase & Co. raised their target price on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Oppenheimer lowered their price objective on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial cut their target price on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Morgan Stanley lowered their price target on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, William Blair assumed coverage on shares of Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Three investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $111.26.

Enphase Energy Trading Up 3.4 %

NASDAQ ENPH opened at $83.83 on Wednesday. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 5.57 and a beta of 1.72. The business’s fifty day moving average is $108.44 and its 200-day moving average is $111.79. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy has a one year low of $73.49 and a one year high of $141.63.

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 analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm’s revenue was down 30.9% compared to the same quarter last year. Equities research analysts predict that Enphase Energy will post 1.19 EPS for the current year.

Institutional Trading of Enphase Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. abrdn plc boosted its stake in shares of Enphase Energy by 37.0% in the 3rd quarter. abrdn plc now owns 571,481 shares of the semiconductor company’s stock valued at $64,749,000 after purchasing an additional 154,231 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Enphase Energy by 6.6% in the third quarter. State of Alaska Department of Revenue now owns 15,729 shares of the semiconductor company’s stock worth $1,777,000 after purchasing an additional 975 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position in Enphase Energy by 2.0% during the third quarter. Clear Harbor Asset Management LLC now owns 178,814 shares of the semiconductor company’s stock valued at $20,210,000 after buying an additional 3,447 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Enphase Energy by 19.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,111 shares of the semiconductor company’s stock valued at $804,000 after buying an additional 1,156 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Enphase Energy by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,860 shares of the semiconductor company’s stock worth $11,484,000 after buying an additional 18,960 shares during the period. 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.