TD Cowen Trims Enphase Energy (NASDAQ:ENPH) Target Price to $120.00

Enphase Energy (NASDAQ:ENPH) had its price objective dropped by investment analysts at TD Cowen from $130.00 to $120.00 in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price would suggest a potential upside of 30.11% from the company’s current price.

Other equities analysts have also issued reports about the stock. William Blair started coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Bank of America raised their price objective on shares of Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. Glj Research started coverage on shares of Enphase Energy in a research note on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price objective on the stock. BMO Capital Markets decreased their target price on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Finally, BNP Paribas upgraded Enphase Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $120.00 to $144.00 in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $119.96.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $92.23 on Wednesday. The company has a fifty day moving average of $110.47 and a two-hundred day moving average of $112.47. The company has a market capitalization of $12.55 billion, a PE ratio of 48.04, a P/E/G ratio of 5.57 and a beta of 1.72. Enphase Energy has a 1 year low of $73.49 and a 1 year 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.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.13). The firm had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, analysts expect that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently modified their holdings of ENPH. Baillie Gifford & Co. boosted its position in Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Swedbank AB acquired a new position in shares of Enphase Energy during the 1st quarter worth $424,130,000. Electron Capital Partners LLC grew its stake in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after acquiring an additional 1,078,154 shares during the last quarter. Nordea Investment Management AB grew its stake in Enphase Energy by 11.1% in the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after acquiring an additional 90,558 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Enphase Energy by 17.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock valued at $82,434,000 after acquiring an additional 123,856 shares in the last quarter. Institutional investors and hedge funds 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.