Enphase Energy (NASDAQ:ENPH) Upgraded to Hold at StockNews.com

Enphase Energy (NASDAQ:ENPH) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays cut their target price on Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD Cowen lowered their target price on Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Oppenheimer reduced their price objective on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $110.90.

Enphase Energy Trading Up 3.4 %

NASDAQ:ENPH traded up $2.63 during mid-day trading on Thursday, hitting $81.10. 6,480,094 shares of the company’s stock were exchanged, compared to its average volume of 3,820,991. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $11.03 billion, a P/E ratio of 42.24, a PEG ratio of 5.57 and a beta of 1.72. The company has a 50 day simple moving average of $109.09 and a 200-day simple moving average of $112.01.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The company had revenue of $380.90 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.84 earnings per share. As a group, research analysts expect that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently added to or reduced their stakes in the company. Swedbank AB grew its holdings in shares of Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after acquiring an additional 11,890 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Enphase Energy by 48.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after purchasing an additional 29,013 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Enphase Energy by 364.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after purchasing an additional 85,284 shares during the period. Doheny Asset Management CA purchased a new stake in shares of Enphase Energy during the 2nd quarter valued at $8,095,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Enphase Energy by 54.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock worth $4,438,000 after purchasing an additional 15,776 shares during the period. 72.12% of the stock is 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.