Enphase Energy (NASDAQ:ENPH) Downgraded by Susquehanna

Susquehanna lowered shares of Enphase Energy (NASDAQ:ENPH) from a positive rating to a neutral rating in a research note released on Wednesday, Marketbeat reports. They currently have $104.00 price target on the semiconductor company’s stock, down from their prior price target of $147.00.

ENPH has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $120.00 to $144.00 in a research report on Wednesday, August 7th. William Blair started coverage on Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Piper Sandler lifted their target price on shares of Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, 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 stock from $125.00 to $100.00 in a research report on Tuesday. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $122.96.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $91.64 on Wednesday. The stock’s 50-day simple moving average is $111.25 and its 200-day simple moving average is $112.87. 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 firm has a market capitalization of $12.47 billion, a PE ratio of 47.73, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share 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 company had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same period in the previous year, the business posted $1.16 EPS. The firm’s revenue for the quarter was down 57.3% compared to the same quarter last year. As a group, equities research analysts forecast that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Swedbank AB boosted its position in Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after acquiring an additional 11,890 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Enphase Energy by 48.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after purchasing an additional 29,013 shares during the period. Allspring Global Investments Holdings LLC increased its stake 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 valued at $13,147,000 after purchasing an additional 85,284 shares during the last quarter. Doheny Asset Management CA purchased a new position in Enphase Energy during the second quarter worth about $8,095,000. Finally, Envestnet Asset Management Inc. boosted its stake in Enphase Energy by 54.9% in the 2nd 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 last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

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.