Enphase Energy (NASDAQ:ENPH) Price Target Cut to $101.00 by Analysts at Oppenheimer

Enphase Energy (NASDAQ:ENPH) had its price objective cut by Oppenheimer from $134.00 to $101.00 in a research report report published on Wednesday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other equities analysts have also recently issued reports on ENPH. Barclays cut their price objective 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. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Morgan Stanley lowered their target price on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Royal Bank of Canada downgraded shares of Enphase Energy from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $125.00 to $100.00 in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Stock Up 3.4 %

Shares of Enphase Energy stock opened at $83.83 on Wednesday. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 190.52, a PEG ratio of 8.07 and a beta of 1.72. The stock’s 50-day moving average is $108.44 and its 200 day moving average is $111.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. 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 data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. 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 EPS. Equities research analysts anticipate that Enphase Energy will post 1.18 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently modified their holdings of ENPH. Baillie Gifford & Co. increased its position in Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after buying an additional 2,304,408 shares during the last quarter. Swedbank AB bought a new position in shares of Enphase Energy during the 1st quarter worth $424,130,000. Electron Capital Partners LLC increased its holdings in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after acquiring an additional 1,078,154 shares during the last quarter. Nordea Investment Management AB raised its stake in Enphase Energy by 11.1% in the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after acquiring an additional 90,558 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Enphase Energy by 17.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock valued at $82,434,000 after acquiring an additional 123,856 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.