Enphase Energy (NASDAQ:ENPH) Upgraded at Guggenheim

Guggenheim upgraded shares of Enphase Energy (NASDAQ:ENPH) from a sell rating to a neutral rating in a research note published on Friday, MarketBeat reports. The brokerage currently has $62.00 target price on the semiconductor company’s stock.

Several other research analysts have also weighed in on ENPH. Morgan Stanley cut their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Royal Bank of Canada lowered their price objective on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a research report on Friday, November 22nd. Roth Mkm lowered their price objective on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Susquehanna decreased their price target on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, Northland Securities reduced their price objective on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.06.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $62.28 on Friday. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 141.55, a PEG ratio of 7.94 and a beta of 1.68. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average price is $69.27 and its 200 day moving average price is $89.70. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new stake in Enphase Energy in the 3rd quarter worth approximately $1,273,000. Charles Schwab Investment Management Inc. lifted its holdings in Enphase Energy by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after purchasing an additional 16,234 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Enphase Energy in the 3rd quarter worth approximately $37,475,000. Mizuho Securities USA LLC lifted its holdings in Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after purchasing an additional 438,424 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Enphase Energy by 15.9% in the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after purchasing an additional 31,008 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.