Enphase Energy (NASDAQ:ENPH – Get Free Report) had its price target lowered by equities researchers at The Goldman Sachs Group from $121.00 to $105.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 70.36% from the company’s current price.
A number of other equities analysts have also commented on ENPH. Raymond James reduced their price objective on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. HSBC cut Enphase Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $154.00 to $81.00 in a research note on Friday, November 8th. OTR Global raised Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. TD Cowen decreased their price objective on Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group cut Enphase Energy from a “hold” rating to an “underperform” rating and cut their price objective for the company from $93.00 to $61.00 in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus target price of $95.06.
Check Out Our Latest Analysis on ENPH
Enphase Energy Stock Down 1.9 %
Enphase Energy (NASDAQ:ENPH – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. Equities research analysts anticipate that Enphase Energy will post 0.91 earnings per share for the current year.
Institutional Investors Weigh In On Enphase Energy
Several large investors have recently added to or reduced their stakes in the stock. Green Alpha Advisors LLC lifted its position in Enphase Energy by 1.4% during the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after acquiring an additional 102 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Enphase Energy by 10.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 118 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Enphase Energy by 19.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock worth $87,000 after buying an additional 125 shares during the last quarter. Empirical Finance LLC lifted its stake in Enphase Energy by 3.9% during the third quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock worth $415,000 after purchasing an additional 137 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Enphase Energy by 5.2% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock worth $354,000 after acquiring an additional 153 shares during the period. 72.12% of the stock is 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.
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