Enphase Energy (NASDAQ:ENPH) PT Lowered to $125.00

Enphase Energy (NASDAQ:ENPH) had its price target lowered by Evercore ISI from $133.00 to $125.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Evercore ISI’s target price suggests a potential upside of 54.13% from the company’s previous close.

A number of other brokerages have also commented on ENPH. Roth Mkm reiterated a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, July 24th. Truist Financial decreased 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. Royal Bank of Canada cut Enphase Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $125.00 to $100.00 in a report on Tuesday, October 15th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Finally, Raymond James dropped their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Stock Performance

ENPH opened at $81.10 on Wednesday. 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 market cap of $11.03 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $141.63. The business has a 50 day moving average of $109.09 and a 200-day moving average of $112.01.

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 the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. On average, equities research analysts expect that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its stake in shares of Enphase Energy by 6.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 15,729 shares of the semiconductor company’s stock valued at $1,777,000 after acquiring an additional 975 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in Enphase Energy by 2.0% in the third quarter. Clear Harbor Asset Management LLC now owns 178,814 shares of the semiconductor company’s stock valued at $20,210,000 after purchasing an additional 3,447 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Enphase Energy by 19.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,111 shares of the semiconductor company’s stock valued at $804,000 after purchasing an additional 1,156 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Enphase Energy by 23.4% during 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 purchasing an additional 18,960 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Enphase Energy in the third quarter valued at approximately $6,387,000. Institutional investors 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.