Enphase Energy (NASDAQ:ENPH) PT Lowered to $85.00

Enphase Energy (NASDAQ:ENPH) had its price target decreased by Royal Bank of Canada from $100.00 to $85.00 in a report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the semiconductor company’s stock.

Several other equities research analysts also recently weighed in on the company. Craig Hallum lowered their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday. Raymond James lowered their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday. Evercore ISI lowered their price target on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday. Canaccord Genuity Group downgraded Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Bank of America raised their price target on Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Price Performance

Shares of ENPH stock opened at $83.83 on Wednesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The stock’s 50-day moving average is $108.44 and its 200 day moving average is $111.72. The company has a market cap of $11.35 billion, a P/E ratio of 190.52, a PEG ratio of 8.07 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.57%. The company had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the previous year, the business earned $0.84 EPS. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. Research analysts predict that Enphase Energy will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently made changes to their positions in ENPH. Swedbank AB purchased a new stake in shares of Enphase Energy in the first quarter valued at approximately $424,130,000. Baillie Gifford & Co. increased its position in shares of Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC boosted its stake in shares of Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after acquiring an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP acquired a new stake in shares of Enphase Energy in the second quarter worth approximately $51,582,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Enphase Energy in the first quarter worth approximately $59,128,000. 72.12% of the stock is currently owned by hedge funds and other 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.