Enphase Energy (NASDAQ:ENPH) Given New $66.00 Price Target at BMO Capital Markets

Enphase Energy (NASDAQ:ENPH) had its price objective cut by equities researchers at BMO Capital Markets from $69.00 to $66.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the semiconductor company’s stock. BMO Capital Markets’ target price suggests a potential downside of 3.08% from the stock’s previous close.

ENPH has been the topic of a number of other reports. Canaccord Genuity Group cut Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Bank of America decreased their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. The Goldman Sachs Group cut their price objective on Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Piper Sandler decreased their target price on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Finally, Janney Montgomery Scott cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.92.

Enphase Energy Trading Up 2.8 %

Shares of ENPH traded up $1.84 during midday trading on Wednesday, reaching $68.09. The company had a trading volume of 3,536,048 shares, compared to its average volume of 3,637,003. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The firm has a 50 day simple moving average of $69.02 and a 200-day simple moving average of $89.11. The stock has a market cap of $9.20 billion, a PE ratio of 154.62, a price-to-earnings-growth ratio of 8.22 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Research analysts forecast that Enphase Energy will post 0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently added to or reduced their stakes in ENPH. Baillie Gifford & Co. boosted its holdings in shares of Enphase Energy by 32.0% in the 4th quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after buying an additional 2,028,691 shares in the last quarter. Nordea Investment Management AB lifted its position in Enphase Energy by 131.6% in the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after acquiring an additional 1,258,778 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in Enphase Energy by 4,177.9% in the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after acquiring an additional 438,424 shares in the last quarter. Aspex Management HK Ltd purchased a new position in shares of Enphase Energy during the third quarter worth about $48,442,000. Finally, Montrusco Bolton Investments Inc. increased its position in shares of Enphase Energy by 93.4% during the third quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock worth $99,295,000 after purchasing an additional 424,327 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.