Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $105.00 at Piper Sandler

Enphase Energy (NASDAQ:ENPH) had its price target decreased by Piper Sandler from $115.00 to $105.00 in a research report released on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on the stock. Guggenheim raised shares of Enphase Energy from a “sell” rating to a “neutral” rating in a report on Thursday. Barclays lowered their price target on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Roth Mkm reaffirmed a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a report on Wednesday, July 24th. Royal Bank of Canada cut shares of Enphase Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $125.00 to $100.00 in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $122.33.

Enphase Energy Stock Performance

ENPH opened at $91.64 on Thursday. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The company has a market cap 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’s 50 day moving average is $111.25 and its 200 day moving average is $112.86. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm had revenue of $303.80 million for the quarter, compared to analysts’ expectations of $309.73 million. During the same period in the prior year, the firm earned $1.16 EPS. Enphase Energy’s revenue for the quarter was down 57.3% compared to the same quarter last year. On average, equities research analysts predict that Enphase Energy will post 1.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Swedbank AB purchased a new stake in shares of Enphase Energy during the first quarter valued at $424,130,000. Baillie Gifford & Co. boosted its stake in shares of Enphase Energy by 57.9% during the second 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 during the period. Electron Capital Partners LLC boosted its stake in shares of Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares during the period. Anomaly Capital Management LP purchased a new stake in shares of Enphase Energy during the second quarter valued at $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Enphase Energy during the first quarter valued at $59,128,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

About Enphase Energy

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.