Enphase Energy (NASDAQ:ENPH) PT Lowered to $123.00

Enphase Energy (NASDAQ:ENPH) had its price target dropped by research analysts at Craig Hallum from $153.00 to $123.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price would suggest a potential upside of 61.71% from the stock’s previous close.

ENPH has been the subject of a number of other reports. Oppenheimer lowered their price objective on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday. Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “hold” rating on shares of Enphase Energy in a research report on Wednesday. Citigroup dropped their price target on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley dropped their price target on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy has an average rating of “Hold” and an average target price of $115.35.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $76.06 on Wednesday. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a 50-day simple moving average of $110.47 and a 200 day simple moving average of $112.47. 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 market capitalization of $10.35 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72.

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

Institutional Trading of Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. Manchester Capital Management LLC boosted its stake in Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares in the last quarter. Chilton Capital Management LLC boosted its position in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after buying an additional 246 shares during the period. UMB Bank n.a. raised its holdings in shares of Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Enphase Energy during the third quarter worth $34,000. Finally, Blue Trust Inc. raised its holdings in Enphase Energy by 109.1% during the third quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 228 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.