Enphase Energy (NASDAQ:ENPH) Price Target Cut to $93.00 by Analysts at Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its price objective trimmed by Morgan Stanley from $102.00 to $93.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor company’s stock.

Several other brokerages also recently commented on ENPH. Citigroup lowered their price objective on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. William Blair began coverage on Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Craig Hallum increased their price objective on Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Stock Up 3.4 %

ENPH stock opened at $83.83 on Wednesday. The stock’s 50 day simple moving average is $108.44 and its 200 day simple moving average is $111.72. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The company has a market cap of $11.35 billion, a P/E ratio of 190.52, a price-to-earnings-growth ratio of 8.07 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). 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 10.57% and a net margin of 4.91%. The firm’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. On average, research analysts expect that Enphase Energy will post 1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

A number of large investors have recently made changes to their positions in the stock. abrdn plc boosted its holdings in shares of Enphase Energy by 37.0% in the third quarter. abrdn plc now owns 571,481 shares of the semiconductor company’s stock worth $64,749,000 after acquiring an additional 154,231 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Enphase Energy by 6.6% in the third quarter. State of Alaska Department of Revenue now owns 15,729 shares of the semiconductor company’s stock worth $1,777,000 after acquiring an additional 975 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in shares of 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 worth $20,210,000 after acquiring an additional 3,447 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Enphase Energy by 19.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,111 shares of the semiconductor company’s stock worth $804,000 after acquiring an additional 1,156 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 buying an additional 18,960 shares in the last quarter. 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.