Enphase Energy (NASDAQ:ENPH) Given New $90.00 Price Target at Guggenheim

Enphase Energy (NASDAQ:ENPH) had its target price cut by Guggenheim from $93.00 to $90.00 in a research report report published on Friday morning, Benzinga reports. They currently have a sell rating on the semiconductor company’s stock.

Several other brokerages also recently weighed in on ENPH. Piper Sandler increased their price target on Enphase Energy from $111.00 to $120.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Canaccord Genuity Group reduced their target price on Enphase Energy from $150.00 to $140.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Enphase Energy from $124.00 to $130.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. Bank of America reduced their price target on shares of Enphase Energy from $71.00 to $70.00 and set an underperform rating on the stock in a research note on Wednesday, July 17th. Finally, Barclays lowered their price objective on shares of Enphase Energy from $131.00 to $129.00 and set an overweight rating for the company in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has a consensus rating of Hold and a consensus price target of $126.42.

Enphase Energy Stock Down 0.8 %

NASDAQ ENPH opened at $105.95 on Friday. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of 55.18, a PEG ratio of 6.19 and a beta of 1.72. The company has a fifty day moving average of $113.09 and a two-hundred day moving average of $114.07.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm had revenue of $303.80 million for the quarter, compared to analysts’ expectations of $309.73 million. During the same period in the prior year, the firm posted $1.16 earnings per share. Enphase Energy’s revenue for the quarter was down 57.3% on a year-over-year basis. On average, analysts predict that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC increased its position in shares of Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares in the last quarter. Chilton Capital Management LLC grew its stake in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after buying an additional 246 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in Enphase Energy during the 1st quarter valued at about $35,000. TFO Wealth Partners LLC raised its stake in Enphase Energy by 6,720.0% in the fourth quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock valued at $45,000 after buying an additional 336 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 461 shares in the last quarter. Hedge funds and other 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.