Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $123.00 at Craig Hallum

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Craig Hallum from $153.00 to $123.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on ENPH. Citigroup decreased their price objective on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday. Susquehanna downgraded Enphase Energy from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $147.00 to $104.00 in a report on Wednesday, October 16th. Morgan Stanley decreased their price objective on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock 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, Canaccord Genuity Group reissued a “hold” rating and issued a $95.00 target price (down from $140.00) on shares of Enphase Energy in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $111.56.

Enphase Energy Stock Down 14.9 %

ENPH stock opened at $78.47 on Wednesday. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $141.63. The company has a market cap of $10.68 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The business’s 50-day simple moving average is $109.81 and its 200 day simple moving average is $112.23. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36.

Enphase Energy (NASDAQ:ENPH) last released its earnings results 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 return on equity of 17.30% and a net margin of 9.12%. The firm had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same period last year, the business earned $0.84 earnings per share. The firm’s quarterly revenue was down 30.9% compared to the same quarter last year. On average, research analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its holdings in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after acquiring an additional 2,304,408 shares during the period. Swedbank AB acquired a new stake in shares of Enphase Energy during the 1st quarter worth approximately $424,130,000. Electron Capital Partners LLC boosted its position in shares of Enphase Energy by 1,021.4% during the 2nd 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 in the last quarter. Nordea Investment Management AB boosted its position in shares of Enphase Energy by 11.1% during the 1st quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock worth $108,927,000 after acquiring an additional 90,558 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Enphase Energy by 17.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock worth $82,434,000 after acquiring an additional 123,856 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

About Enphase Energy

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.