Enphase Energy (NASDAQ:ENPH) Given New $114.00 Price Target at Barclays

Enphase Energy (NASDAQ:ENPH) had its price target lowered by Barclays from $129.00 to $114.00 in a research note issued to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the semiconductor company’s stock.

Other equities research analysts have also issued research reports about the stock. Piper Sandler cut their target price on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. Evercore ISI cut their target price on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday. Craig Hallum lowered their price target on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Glj Research assumed coverage on shares of Enphase Energy in a research report on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target for the company. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and an average target price of $111.56.

Enphase Energy Price Performance

ENPH stock opened at $78.47 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63. The firm’s fifty day moving average is $109.81 and its 200 day moving average is $112.23. The firm has a market cap of $10.68 billion, a P/E ratio of 40.87, a P/E/G ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm 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% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. Research analysts predict that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds have recently bought and sold shares of ENPH. Mirae Asset Global Investments Co. Ltd. lifted its stake in Enphase Energy by 23.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,860 shares of the semiconductor company’s stock worth $11,484,000 after acquiring an additional 18,960 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Enphase Energy during the third quarter worth approximately $6,387,000. Eastern Bank acquired a new stake in Enphase Energy during the third quarter worth approximately $1,065,000. Signaturefd LLC lifted its position in shares of Enphase Energy by 29.7% during the 3rd quarter. Signaturefd LLC now owns 1,240 shares of the semiconductor company’s stock worth $140,000 after buying an additional 284 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Enphase Energy in the 3rd quarter valued at $243,000. Institutional investors and hedge funds 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.