Oppenheimer Issues Positive Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target upped by Oppenheimer from $101.00 to $103.00 in a research report released on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the company. Piper Sandler dropped their price objective on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Canaccord Genuity Group upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $82.00 in a research note on Wednesday. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Wednesday, October 23rd. Evercore ISI dropped their target price on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Enphase Energy from $101.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $90.79.

Enphase Energy Price Performance

Shares of ENPH stock opened at $65.26 on Wednesday. Enphase Energy has a twelve month low of $58.33 and a twelve month high of $141.63. The company has a market capitalization of $8.82 billion, a PE ratio of 148.32, a price-to-earnings-growth ratio of 8.22 and a beta of 1.68. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The firm has a fifty day simple moving average of $68.88 and a 200-day simple moving average of $88.95.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Equities research analysts anticipate that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new position in shares of Enphase Energy in the third quarter worth $1,273,000. Charles Schwab Investment Management Inc. lifted its holdings in Enphase Energy by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after purchasing an additional 16,234 shares during the period. Erste Asset Management GmbH bought a new position in Enphase Energy in the 3rd quarter valued at about $37,475,000. Mizuho Securities USA LLC increased its stake in Enphase Energy by 4,177.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after buying an additional 438,424 shares during the period. Finally, Impax Asset Management Group plc raised its position in shares of Enphase Energy by 15.9% during the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after buying an additional 31,008 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.