Enphase Energy (NASDAQ:ENPH) PT Lowered to $85.00 at Susquehanna

Enphase Energy (NASDAQ:ENPH) had its target price trimmed by Susquehanna from $104.00 to $85.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Several other equities analysts also recently commented on the company. The Goldman Sachs Group dropped their target price on Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday. Roth Mkm dropped their target price on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank of Canada dropped their target price on Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating for the company in a research report on Wednesday. Barclays lowered their target price on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Price Performance

Shares of ENPH traded up $1.39 during trading hours on Thursday, hitting $82.49. 1,297,963 shares of the company were exchanged, compared to its average volume of 3,807,850. The firm’s fifty day moving average is $109.09 and its 200 day moving average is $112.01. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 42.24, a P/E/G ratio of 5.57 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. On average, equities analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several large investors have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its position in shares of Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after acquiring an additional 2,304,408 shares in the last quarter. Swedbank AB purchased a new position in shares of Enphase Energy in the first quarter valued at about $424,130,000. Electron Capital Partners LLC lifted its position in shares of Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Enphase Energy by 11.1% in the first quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock worth $108,927,000 after buying an additional 90,558 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Enphase Energy by 17.6% in the second quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock worth $82,434,000 after buying an additional 123,856 shares in the last quarter. 72.12% of the stock is currently 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.