Enphase Energy (NASDAQ:ENPH) Downgraded by Royal Bank of Canada

Royal Bank of Canada cut shares of Enphase Energy (NASDAQ:ENPH) from an outperform rating to a sector perform rating in a research report released on Tuesday, Marketbeat reports. They currently have $100.00 price objective on the semiconductor company’s stock, down from their prior price objective of $125.00.

A number of other equities research analysts also recently issued reports on ENPH. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $120.00 to $144.00 in a report on Wednesday, August 7th. Canaccord Genuity Group cut their price target 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. Canaccord Genuity Group decreased their price target on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Barclays dropped their price objective on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $115.00 target price (up from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $122.96.

Enphase Energy Price Performance

ENPH opened at $91.64 on Tuesday. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 5.57 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The firm has a 50-day moving average price of $111.25 and a 200-day moving average price of $112.87. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (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 for the quarter, compared to the consensus estimate of $309.73 million. During the same period in the previous year, the firm earned $1.16 EPS. The company’s revenue was down 57.3% compared to the same quarter last year. Equities analysts expect that Enphase Energy will post 1.19 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently bought and sold shares of ENPH. Vanguard Group Inc. lifted its stake in Enphase Energy by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after acquiring an additional 192,854 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Swedbank AB bought a new position in Enphase Energy in the first quarter worth about $424,130,000. Electron Capital Partners LLC lifted its holdings in Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Enphase Energy by 11.1% in the first quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock worth $108,927,000 after buying an additional 90,558 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.