Enphase Energy (NASDAQ:ENPH) Price Target Cut to $74.00 by Analysts at Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its price target reduced by equities researchers at Morgan Stanley from $93.00 to $74.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 24.33% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. HSBC cut shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $154.00 to $81.00 in a report on Friday, November 8th. BNP Paribas downgraded shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research note on Friday, November 8th. TD Cowen cut their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. William Blair assumed coverage on Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Finally, Hsbc Global Res cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $102.76.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $59.52 on Friday. Enphase Energy has a 12 month low of $59.12 and a 12 month high of $141.63. The stock has a market capitalization of $8.04 billion, a P/E ratio of 135.27, a PEG ratio of 6.80 and a beta of 1.77. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average is $95.27 and its 200 day moving average is $107.75.

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). The company had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. On average, sell-side analysts anticipate that Enphase Energy will post 0.92 earnings per share for the current year.

Institutional Trading of Enphase Energy

Several large investors have recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after purchasing an additional 58,040 shares in the last quarter. Swedbank AB bought a new stake in shares of Enphase Energy during the 1st quarter valued at $424,130,000. Geode Capital Management LLC grew its position in shares of Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after buying an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Enphase Energy by 6.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after acquiring an additional 142,491 shares in the last quarter. Finally, Electron Capital Partners LLC lifted its position in 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 valued at $118,028,000 after acquiring an additional 1,078,154 shares during the period. 72.12% of the stock is 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.