Enphase Energy (NASDAQ:ENPH) PT Lowered to $101.00 at Oppenheimer

Enphase Energy (NASDAQ:ENPH) had its target price decreased by Oppenheimer from $134.00 to $101.00 in a report issued on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday. Susquehanna lowered Enphase Energy from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $147.00 to $104.00 in a research note on Wednesday, October 16th. Bank of America upped their target price on Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Morgan Stanley lowered their price target on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Piper Sandler cut their price objective on Enphase Energy from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Three 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. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $111.26.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $83.83 on Wednesday. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The business’s fifty day moving average is $108.44 and its 200 day moving average is $111.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 190.52, a PEG ratio of 8.07 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $0.84 earnings per share. The company’s quarterly revenue was down 30.9% on a year-over-year basis. Research analysts predict that Enphase Energy will post 1.18 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its holdings in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 203 shares during the last quarter. Chilton Capital Management LLC grew its stake in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the last quarter. UMB Bank n.a. increased its holdings in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC bought a new position in Enphase Energy during the 3rd quarter valued at approximately $34,000. Finally, Blue Trust Inc. lifted its holdings in Enphase Energy by 109.1% in the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after buying an additional 228 shares during the period. 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.