Enphase Energy (NASDAQ:ENPH) Price Target Cut to $120.00 by Analysts at TD Cowen

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by TD Cowen from $130.00 to $120.00 in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

Several other research firms also recently commented on ENPH. Morgan Stanley lifted their price objective on shares of Enphase Energy from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. BMO Capital Markets reduced 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 report on Monday, October 14th. Susquehanna cut shares of Enphase Energy from a “positive” rating to a “neutral” rating and cut their price objective for the company from $147.00 to $104.00 in a report on Wednesday, October 16th. Craig Hallum lifted their price objective 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 lifted their price objective on shares of Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $111.56.

Enphase Energy Price Performance

NASDAQ ENPH opened at $78.47 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm’s 50 day moving average price is $109.81 and its 200-day moving average price is $112.23. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a market cap of $10.68 billion, a PE ratio of 40.87, a P/E/G ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. Sell-side analysts forecast that Enphase Energy will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Benjamin Edwards Inc. boosted its holdings in Enphase Energy by 2.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 93 shares during the last quarter. Hollencrest Capital Management boosted its holdings in Enphase Energy by 3.3% in the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Enphase Energy by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after purchasing an additional 100 shares during the last quarter. Green Alpha Advisors LLC boosted its holdings in Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 102 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in Enphase Energy by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after purchasing an additional 106 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.