Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $120.00 at TD Cowen

Enphase Energy (NASDAQ:ENPH) had its price objective cut by TD Cowen from $130.00 to $120.00 in a report issued on Wednesday, Briefing.com reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price points to a potential upside of 30.11% from the stock’s previous close.

Several other analysts have also commented on ENPH. Glj Research started 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 on the stock. Truist Financial reduced their target price on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Craig Hallum raised their price objective on Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America upped their target price on shares of Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average price target of $119.96.

Enphase Energy Stock Up 2.0 %

Shares of ENPH opened at $92.23 on Wednesday. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The stock has a fifty day simple moving average of $110.47 and a two-hundred day simple moving average of $112.47. The company has a market capitalization of $12.55 billion, a PE ratio of 48.04, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.13). The firm had revenue of $380.90 million for 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 for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. As a group, equities analysts forecast that Enphase Energy will post 1.19 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Enphase Energy in the third quarter valued at $6,387,000. Eastern Bank acquired a new position in shares of Enphase Energy during the 3rd quarter worth about $1,065,000. Signaturefd LLC increased its holdings in shares of Enphase Energy by 29.7% in the 3rd quarter. Signaturefd LLC now owns 1,240 shares of the semiconductor company’s stock valued at $140,000 after acquiring an additional 284 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Enphase Energy during the 3rd quarter worth about $243,000. Finally, Jade Capital Advisors LLC lifted its stake in Enphase Energy by 66.7% during the third quarter. Jade Capital Advisors LLC now owns 5,000 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 2,000 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.