Enphase Energy (NASDAQ:ENPH) Given New $121.00 Price Target at The Goldman Sachs Group

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by The Goldman Sachs Group from $145.00 to $121.00 in a report issued on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the semiconductor company’s stock.

A number of other analysts have also recently commented on the stock. Piper Sandler dropped their target price on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Wednesday, October 23rd. Morgan Stanley reduced their price objective on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Citigroup decreased their target price on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, BMO Capital Markets cut their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $100.33.

Enphase Energy Trading Up 2.5 %

NASDAQ:ENPH opened at $73.40 on Tuesday. The firm has a 50 day moving average of $78.05 and a 200 day moving average of $100.91. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 166.82, a PEG ratio of 22.03 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH) last announced its 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). The business had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share. As a group, sell-side analysts anticipate that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of ENPH. Harbor Capital Advisors Inc. purchased a new stake in shares of Enphase Energy in the third quarter valued at about $1,273,000. Charles Schwab Investment Management Inc. raised its stake in Enphase Energy by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after acquiring an additional 16,234 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Enphase Energy during the 3rd quarter worth approximately $37,475,000. Mizuho Securities USA LLC grew its stake in shares of Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after purchasing an additional 438,424 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in shares of Enphase Energy by 15.9% in the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after purchasing an additional 31,008 shares during the period. 72.12% of the stock is owned by hedge funds and other 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.