Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $145.00 at The Goldman Sachs Group

Enphase Energy (NASDAQ:ENPH) had its price target decreased by The Goldman Sachs Group from $170.00 to $145.00 in a research report report published on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also recently commented on ENPH. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. Royal Bank of Canada cut shares of Enphase Energy from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $125.00 to $100.00 in a research report on Tuesday, October 15th. Barclays dropped their target price on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Raymond James dropped their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, TD Cowen decreased their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $111.56.

Enphase Energy Stock Performance

Shares of ENPH opened at $78.47 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The stock has a 50-day moving average of $109.81 and a 200-day moving average of $112.23. 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 has a one year low of $73.49 and a one year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly 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). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the business posted $0.84 EPS. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. On average, equities research analysts predict that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

Several large investors have recently bought and sold shares of ENPH. Swedbank AB lifted its stake in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after acquiring an additional 11,890 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Enphase Energy by 48.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after acquiring an additional 29,013 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Enphase Energy by 364.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after acquiring an additional 85,284 shares during the period. Doheny Asset Management CA acquired a new stake in Enphase Energy during the 2nd quarter valued at approximately $8,095,000. Finally, Envestnet Asset Management Inc. lifted its stake in Enphase Energy by 54.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock valued at $4,438,000 after acquiring an additional 15,776 shares during the period. Hedge funds and other institutional investors 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.