TD Cowen Trims Enphase Energy (NASDAQ:ENPH) Target Price to $120.00

Enphase Energy (NASDAQ:ENPH) had its target price lowered by TD Cowen from $130.00 to $120.00 in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other analysts have also issued reports on the company. Barclays lowered their target price on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Truist Financial dropped their price target on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Craig Hallum increased their target price on Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. Finally, Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective on the stock. in a report on Wednesday. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Trading Up 3.4 %

NASDAQ ENPH opened at $83.83 on Wednesday. Enphase Energy has a one year low of $73.49 and a one year high of $141.63. 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 company has a 50-day simple moving average of $108.44 and a 200-day simple moving average of $111.79. The firm has a market capitalization of $11.41 billion, a PE ratio of 43.66, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results 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 business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. On average, equities analysts forecast that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC lifted its position in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after buying an additional 203 shares in the last quarter. Chilton Capital Management LLC lifted its holdings in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 246 shares in the last quarter. UMB Bank n.a. grew its position in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after buying an additional 259 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Enphase Energy during the third quarter valued at approximately $34,000. Finally, Quest Partners LLC lifted its stake in shares of Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the last quarter. 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.