Enphase Energy (NASDAQ:ENPH) Price Target Cut to $105.00 by Analysts at The Goldman Sachs Group

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by The Goldman Sachs Group from $121.00 to $105.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

ENPH has been the subject of a number of other reports. Raymond James lowered their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group cut Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $93.00 to $61.00 in a research note on Thursday, November 7th. Piper Sandler reduced their price target on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Canaccord Genuity Group lowered Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $95.06.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $60.99 on Wednesday. The company has a market capitalization of $8.24 billion, a P/E ratio of 138.61, a P/E/G ratio of 8.13 and a beta of 1.68. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a fifty day moving average of $69.29 and a 200-day moving average of $92.19.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 earnings per share. As a group, equities research analysts predict that Enphase Energy will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

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