Enphase Energy (NASDAQ:ENPH) Price Target Cut to $130.00 by Analysts at Raymond James

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Raymond James from $140.00 to $130.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on ENPH. TD Cowen cut their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday. BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $120.00 to $144.00 in a research note on Wednesday, August 7th. Royal Bank of Canada downgraded shares of Enphase Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $125.00 to $100.00 in a research report on Tuesday, October 15th. Truist Financial decreased their price target on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Citigroup decreased their price target on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $111.56.

Enphase Energy Stock Down 14.9 %

Enphase Energy stock opened at $78.47 on Wednesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of 40.87, a P/E/G ratio of 5.57 and a beta of 1.72. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The firm has a 50 day simple moving average of $109.81 and a 200 day simple moving average of $112.23.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter last year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was down 30.9% 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

Large investors have recently added to or reduced their stakes in the stock. Swedbank AB increased its position in Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after buying an additional 11,890 shares during the period. DekaBank Deutsche Girozentrale increased its position in Enphase Energy by 48.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock worth $10,658,000 after buying an additional 29,013 shares during the period. Allspring Global Investments Holdings LLC increased its position in Enphase Energy by 364.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock worth $13,147,000 after buying an additional 85,284 shares during the period. Doheny Asset Management CA acquired a new stake in Enphase Energy in the second quarter worth $8,095,000. Finally, Envestnet Asset Management Inc. increased its position in Enphase Energy by 54.9% in the second quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock worth $4,438,000 after buying an additional 15,776 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

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.