Oppenheimer Raises Enphase Energy (NASDAQ:ENPH) Price Target to $103.00

Enphase Energy (NASDAQ:ENPH) had its target price boosted by equities research analysts at Oppenheimer from $101.00 to $103.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price would indicate a potential upside of 54.86% from the stock’s previous close.

ENPH has been the subject of a number of other reports. TD Cowen decreased their target price on Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, January 27th. Barclays lowered their price objective on Enphase Energy from $114.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group reduced their target price on shares of Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Craig Hallum lowered their price target on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Roth Mkm cut their price target on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $90.42.

Enphase Energy Price Performance

Shares of ENPH opened at $66.51 on Wednesday. The firm has a 50-day simple moving average of $68.77 and a two-hundred day simple moving average of $88.79. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63. The stock has a market cap of $8.99 billion, a PE ratio of 151.16, a P/E/G ratio of 8.22 and a beta of 1.68.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. As a group, analysts forecast that Enphase Energy will post 0.92 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Avior Wealth Management LLC raised its holdings in shares of Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 279 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after buying an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new stake in Enphase Energy during the third quarter worth about $34,000. Stone House Investment Management LLC purchased a new position in shares of Enphase Energy in the 3rd quarter worth about $34,000. Finally, Quarry LP acquired a new position in shares of Enphase Energy in the 3rd quarter valued at about $37,000. 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.