Enphase Energy (NASDAQ:ENPH) Given New $67.00 Price Target at Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its price target cut by equities researchers at Morgan Stanley from $68.00 to $67.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s target price points to a potential upside of 1.13% from the company’s previous close.

ENPH has been the topic of a number of other reports. Oppenheimer dropped their price target on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Citigroup increased their target price on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Janney Montgomery Scott downgraded Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research note on Wednesday, October 23rd. Bank of America decreased their price target on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a research note on Thursday, November 7th. Finally, Barclays dropped their price objective on Enphase Energy from $114.00 to $91.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $93.19.

Enphase Energy Stock Performance

Shares of ENPH opened at $66.25 on Wednesday. Enphase Energy has a one year low of $58.33 and a one year high of $141.63. The company has a 50-day simple moving average of $69.02 and a two-hundred day simple moving average of $89.11. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm has a market capitalization of $8.95 billion, a PE ratio of 150.57, a price-to-earnings-growth ratio of 8.22 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. On average, analysts anticipate that Enphase Energy will post 0.92 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 ENPH. Oppenheimer & Co. Inc. lifted its position in Enphase Energy by 21.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 10,662 shares of the semiconductor company’s stock valued at $732,000 after purchasing an additional 1,879 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Enphase Energy by 36.6% in the 4th quarter. Impax Asset Management Group plc now owns 308,875 shares of the semiconductor company’s stock valued at $21,214,000 after acquiring an additional 82,766 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Enphase Energy in the fourth quarter worth about $584,000. Union Bancaire Privee UBP SA bought a new stake in Enphase Energy during the fourth quarter worth approximately $824,000. Finally, Prakash Investment Advisors LLC purchased a new stake in Enphase Energy during the fourth quarter valued at approximately $508,000. 72.12% of the stock is currently 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.