Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $125.00 at Evercore ISI

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Evercore ISI from $133.00 to $125.00 in a research report report published on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the semiconductor company’s stock.

A number of other research firms have also weighed in on ENPH. Craig Hallum lowered their price objective on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday. Susquehanna downgraded shares of 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. William Blair initiated coverage on shares of Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. BMO Capital Markets reduced their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Finally, Morgan Stanley dropped their price objective on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $111.26.

Enphase Energy Trading Up 3.4 %

ENPH stock opened at $83.83 on Wednesday. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The firm’s 50-day moving average is $108.44 and its 200 day moving average is $111.79. The company has a market capitalization of $11.41 billion, a PE ratio of 43.66, a P/E/G ratio of 5.57 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 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 company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s revenue was down 30.9% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. On average, research analysts anticipate that Enphase Energy will post 1.19 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently modified their holdings of the business. abrdn plc raised its holdings in Enphase Energy by 37.0% in the 3rd quarter. abrdn plc now owns 571,481 shares of the semiconductor company’s stock worth $64,749,000 after purchasing an additional 154,231 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Enphase Energy by 6.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 15,729 shares of the semiconductor company’s stock valued at $1,777,000 after buying an additional 975 shares in the last quarter. Clear Harbor Asset Management LLC grew its stake in Enphase Energy by 2.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 178,814 shares of the semiconductor company’s stock valued at $20,210,000 after acquiring an additional 3,447 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Enphase Energy by 19.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,111 shares of the semiconductor company’s stock worth $804,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Enphase Energy by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,860 shares of the semiconductor company’s stock worth $11,484,000 after acquiring an additional 18,960 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.