Enphase Energy (NASDAQ:ENPH) PT Lowered to $105.00 at Piper Sandler

Enphase Energy (NASDAQ:ENPH) had its target price reduced by Piper Sandler from $115.00 to $105.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on ENPH. Barclays cut their price target on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Susquehanna downgraded shares of Enphase Energy from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $147.00 to $104.00 in a research report on Wednesday. BMO Capital Markets lowered their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Royal Bank of Canada downgraded 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 note on Tuesday, October 15th. Finally, Morgan Stanley boosted their price objective on shares of Enphase Energy from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $122.33.

Enphase Energy Stock Performance

ENPH opened at $91.64 on Thursday. 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 business’s 50-day simple moving average is $111.25 and its 200 day simple moving average is $112.87. The firm has a market capitalization of $12.47 billion, a PE ratio of 47.73, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. Enphase Energy’s quarterly revenue was down 57.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. As a group, sell-side analysts expect that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC increased its stake in shares of Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 203 shares in the last quarter. Chilton Capital Management LLC raised its stake 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 purchasing an additional 246 shares during the last quarter. UMB Bank n.a. boosted its position 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 valued at $33,000 after buying an additional 259 shares during the last quarter. nVerses Capital LLC bought a new stake in Enphase Energy in the 3rd quarter worth about $34,000. Finally, Quest Partners LLC boosted its position in Enphase Energy by 11,525.0% in the second 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. 72.12% of the stock is currently owned by 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.