Enphase Energy, Inc. (NASDAQ:ENPH) Receives $100.33 Consensus Target Price from Brokerages

Enphase Energy, Inc. (NASDAQ:ENPH) has received an average recommendation of “Hold” from the thirty-three analysts that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $100.33.

Several brokerages recently weighed in on ENPH. StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $93.00 to $61.00 in a report on Thursday, November 7th. TD Cowen lowered their target price on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in Enphase Energy by 0.9% in the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after purchasing an additional 58,040 shares during the last quarter. Swedbank AB lifted its holdings in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after buying an additional 11,890 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after purchasing an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Enphase Energy by 6.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after buying an additional 142,491 shares during the period. Finally, Electron Capital Partners LLC lifted its stake 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 acquiring an additional 1,078,154 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Stock Performance

Enphase Energy stock opened at $71.45 on Friday. The stock’s 50 day moving average is $75.45 and its 200 day moving average is $99.47. The company has a market capitalization of $9.65 billion, a P/E ratio of 162.39, a PEG ratio of 22.03 and a beta of 1.69. Enphase Energy has a twelve month low of $58.33 and a twelve month high of $141.63. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The company had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, equities research analysts predict that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

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.