Barclays Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $91.00

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by Barclays from $114.00 to $91.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the semiconductor company’s stock.

A number of other brokerages have also weighed in on ENPH. Northland Securities decreased their target price on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Raymond James decreased their price objective on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. HSBC cut shares of Enphase Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $154.00 to $81.00 in a report on Friday, November 8th. Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.59.

Enphase Energy Stock Down 3.6 %

Shares of ENPH opened at $63.47 on Tuesday. The firm has a market capitalization of $8.58 billion, a P/E ratio of 144.25, a P/E/G ratio of 7.87 and a beta of 1.68. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63. The firm has a fifty day moving average price of $69.29 and a 200-day moving average price of $93.19. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. Enphase Energy’s revenue was down 30.9% on a year-over-year basis. Equities research analysts expect that Enphase Energy will post 0.92 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in Enphase Energy by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock worth $716,897,000 after acquiring an additional 58,040 shares during the period. Swedbank AB lifted its holdings in shares of Enphase Energy by 0.3% during the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares during the period. Geode Capital Management LLC boosted its position in 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 buying an additional 20,579 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Enphase Energy by 6.5% in the third 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 valued at $265,609,000 after buying an additional 142,491 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Enphase Energy by 131.6% in the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after buying an additional 1,258,778 shares during the period. 72.12% of the stock is 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.