Enphase Energy (NASDAQ:ENPH) PT Lowered to $110.00

Enphase Energy (NASDAQ:ENPH) had its price objective cut by Truist Financial from $130.00 to $110.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on ENPH. Canaccord Genuity Group reduced their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Roth Mkm reaffirmed a “buy” rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday, July 24th. Guggenheim lowered their target price on shares of Enphase Energy from $93.00 to $90.00 and set a “sell” rating on the stock in a research note on Friday, October 4th. Craig Hallum raised their price target on shares of Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Bank of America upped their price target on shares of Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.49.

Enphase Energy Price Performance

ENPH opened at $93.13 on Wednesday. The firm has a 50-day moving average price of $111.92 and a 200-day moving average price of $113.20. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 48.51, a PEG ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was down 57.3% on a year-over-year basis. Equities analysts expect that Enphase Energy will post 1.19 EPS for the current year.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Swedbank AB boosted its stake in Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after acquiring an additional 11,890 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Enphase Energy by 48.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after purchasing an additional 29,013 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Enphase Energy by 364.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after purchasing an additional 85,284 shares in the last quarter. Doheny Asset Management CA bought a new position in Enphase Energy during the 2nd quarter valued at approximately $8,095,000. Finally, Envestnet Asset Management Inc. raised its stake in Enphase Energy by 54.9% during the second 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 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.