Enphase Energy (NASDAQ:ENPH) Given New $70.00 Price Target at Piper Sandler

Enphase Energy (NASDAQ:ENPH) had its target price reduced by Piper Sandler from $85.00 to $70.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on ENPH. Citigroup reduced their price target on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group downgraded shares of Enphase Energy from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.13.

Enphase Energy Price Performance

Enphase Energy stock opened at $71.91 on Friday. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of 163.43, a price-to-earnings-growth ratio of 20.32 and a beta of 1.77. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The firm has a 50-day moving average of $90.14 and a two-hundred day moving average of $105.77.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS 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 10.56%. The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the firm posted $0.84 EPS. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. On average, research analysts forecast that Enphase Energy will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently bought and sold shares of the company. Tidal Investments LLC raised its stake in Enphase Energy by 121.4% during the third quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company’s stock worth $13,893,000 after purchasing an additional 67,411 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Enphase Energy during the third quarter valued at about $239,000. Coldstream Capital Management Inc. acquired a new stake in shares of Enphase Energy during the third quarter valued at about $210,000. Gould Capital LLC increased its position in shares of Enphase Energy by 2.1% during the third quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company’s stock valued at $1,153,000 after acquiring an additional 212 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after acquiring an additional 20,579 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.