Enphase Energy (NASDAQ:ENPH) Price Target Cut to $85.00

Enphase Energy (NASDAQ:ENPH) had its target price lowered by Piper Sandler from $105.00 to $85.00 in a research note published on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor company’s stock.

Other analysts also recently issued research reports about the company. Morgan Stanley dropped their price objective on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective on the stock. in a research note on Wednesday. BMO Capital Markets dropped their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Oppenheimer dropped their price objective on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Bank of America lifted their price target on Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.56.

Enphase Energy Stock Down 14.9 %

NASDAQ:ENPH opened at $78.47 on Wednesday. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $10.68 billion, a P/E ratio of 40.87, a P/E/G ratio of 5.57 and a beta of 1.72. The stock’s fifty day simple moving average is $109.81 and its 200-day simple moving average is $112.23.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly 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). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. Equities research analysts expect that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in the company. Benjamin Edwards Inc. boosted its holdings in shares of Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 93 shares during the period. Hollencrest Capital Management boosted its holdings in shares of Enphase Energy by 3.3% during the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after acquiring an additional 100 shares during the period. Green Alpha Advisors LLC boosted its holdings in shares of Enphase Energy by 1.4% during the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after acquiring an additional 102 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of Enphase Energy by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after acquiring an additional 106 shares during the period. 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.