Enphase Energy (NASDAQ:ENPH) Price Target Cut to $125.00

Enphase Energy (NASDAQ:ENPH) had its price target cut by Evercore ISI from $133.00 to $125.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the stock. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Morgan Stanley lowered their target price on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Wednesday. TD Cowen cut their price target on Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday. Raymond James lowered their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $95.00 price objective (down previously from $140.00) on shares of Enphase Energy in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $83.83 on Wednesday. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 190.52, a P/E/G ratio of 8.07 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 current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The stock’s fifty day simple moving average is $108.44 and its 200-day simple moving average is $111.72.

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 the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.57%. The company’s revenue was down 30.9% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. On average, sell-side analysts predict that Enphase Energy will post 1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Large investors have recently added to or reduced their stakes in the company. Swedbank AB increased its position in shares of Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Enphase Energy by 48.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after purchasing an additional 29,013 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Enphase Energy by 364.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after buying an additional 85,284 shares in the last quarter. Doheny Asset Management CA bought a new stake in Enphase Energy in the 2nd quarter valued at $8,095,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Enphase Energy by 54.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock valued at $4,438,000 after buying an additional 15,776 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.