Enphase Energy (NASDAQ:ENPH) Price Target Increased to $102.00 by Analysts at Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its price objective increased by stock analysts at Morgan Stanley from $100.00 to $102.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective points to a potential downside of 2.68% from the stock’s current price.

A number of other brokerages have also recently commented on ENPH. Guggenheim reduced their target price on shares of Enphase Energy from $93.00 to $90.00 and set a “sell” rating for the company in a report on Friday, October 4th. Royal Bank of Canada reduced their target price on shares of Enphase Energy from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 target price (up from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Glj Research initiated coverage on shares of Enphase Energy in a report on Tuesday, June 25th. They issued a “sell” rating and a $45.82 target price for the company. Finally, Canaccord Genuity Group reduced their target price on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $126.49.

Enphase Energy Stock Performance

NASDAQ ENPH traded up $0.64 during trading hours on Wednesday, hitting $104.81. The company had a trading volume of 937,507 shares, compared to its average volume of 3,712,281. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The company has a market cap of $14.26 billion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72. The business has a 50 day moving average of $112.84 and a 200-day moving average of $113.93.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. During the same period in the previous year, the company posted $1.16 earnings per share. Enphase Energy’s quarterly revenue was down 57.3% on a year-over-year basis. As a group, equities research analysts expect that Enphase Energy will post 1.19 EPS for the current year.

Institutional Trading of Enphase Energy

Several large investors have recently modified their holdings of the business. Benjamin Edwards Inc. grew its position in shares of Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after purchasing an additional 93 shares during the last quarter. Fermata Advisors LLC grew its position in shares of Enphase Energy by 1.4% in the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 100 shares during the last quarter. Hollencrest Capital Management grew its position in shares of Enphase Energy by 3.3% in the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Enphase Energy by 0.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after purchasing an additional 100 shares during the last quarter. Finally, Green Alpha Advisors LLC grew its position in shares of Enphase Energy by 1.4% in the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 102 shares during the last quarter. 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.