Enphase Energy (NASDAQ:ENPH) Price Target Cut to $130.00 by Analysts at Raymond James

Enphase Energy (NASDAQ:ENPH) had its price target cut by Raymond James from $140.00 to $130.00 in a research report released on Wednesday, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other analysts have also recently commented on ENPH. Craig Hallum cut their price target on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer reduced their target price on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday. Glj Research started coverage on Enphase Energy in a research note on Tuesday, June 25th. They issued a “sell” rating and a $45.82 target price for the company. Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price for the company. in a research note on Wednesday. Finally, BMO Capital Markets reduced their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $111.56.

Enphase Energy Stock Performance

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

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 9.12% and a return on equity of 17.30%. The business’s revenue was down 30.9% compared to the same quarter last year. During the same period last year, the company posted $0.84 EPS. As a group, analysts predict that Enphase Energy will post 1.19 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Enphase Energy by 23.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,860 shares of the semiconductor company’s stock worth $11,484,000 after purchasing an additional 18,960 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $6,387,000. Eastern Bank purchased a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $1,065,000. Signaturefd LLC increased its stake in shares of Enphase Energy by 29.7% during the 3rd quarter. Signaturefd LLC now owns 1,240 shares of the semiconductor company’s stock worth $140,000 after purchasing an additional 284 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Enphase Energy during the 3rd quarter worth approximately $243,000. Hedge funds and other 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.