Enphase Energy (NASDAQ:ENPH) Downgraded by Jefferies Financial Group to Underperform

Jefferies Financial Group cut shares of Enphase Energy (NASDAQ:ENPH) from a hold rating to an underperform rating in a research report report published on Thursday, MarketBeat.com reports. They currently have $61.00 price target on the semiconductor company’s stock, down from their previous price target of $93.00.

ENPH has been the subject of a number of other reports. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a research note on Wednesday, October 23rd. Citigroup dropped their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. StockNews.com upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Morgan Stanley lowered their target price on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI cut their price target on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.03.

Enphase Energy Trading Down 6.6 %

ENPH stock opened at $66.90 on Thursday. The business has a fifty day moving average price of $100.48 and a 200 day moving average price of $109.45. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a fifty-two week low of $65.66 and a fifty-two week high of $141.63. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 152.05, a P/E/G ratio of 8.40 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the previous year, the company posted $0.84 EPS. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. Analysts expect that Enphase Energy will post 0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

A number of large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in shares of Enphase Energy in the third quarter valued at about $1,273,000. Swedbank AB raised its position in Enphase Energy by 0.3% in the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares during the last quarter. Impax Asset Management Group plc lifted its stake in Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after acquiring an additional 31,008 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Enphase Energy during the 3rd quarter worth approximately $6,387,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Enphase Energy by 48.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after acquiring an additional 29,013 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

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.