Enphase Energy (NASDAQ:ENPH) Raised to Neutral at Guggenheim

Guggenheim upgraded shares of Enphase Energy (NASDAQ:ENPH) from a sell rating to a neutral rating in a report issued on Thursday, MarketBeat.com reports.

ENPH has been the topic of a number of other reports. Canaccord Genuity Group dropped their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $120.00 to $144.00 in a research note on Wednesday, August 7th. Susquehanna lowered shares of Enphase Energy from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $147.00 to $104.00 in a research note on Wednesday, October 16th. Jefferies Financial Group reiterated a “hold” rating and set a $115.00 price target (up from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Finally, Morgan Stanley boosted their price target on shares of Enphase Energy from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $122.33.

Enphase Energy Price Performance

Shares of ENPH opened at $91.64 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The stock has a market cap of $12.47 billion, a PE ratio of 47.73, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The firm has a fifty day moving average price of $111.25 and a 200 day moving average price of $112.86.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $303.80 million during the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. As a group, sell-side analysts anticipate that Enphase Energy will post 1.19 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. lifted 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 buying an additional 2,304,408 shares during the period. Swedbank AB acquired a new position in Enphase Energy during the first quarter worth approximately $424,130,000. Electron Capital Partners LLC increased its position in 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 worth $118,028,000 after purchasing an additional 1,078,154 shares during the last quarter. Nordea Investment Management AB increased its position in Enphase Energy by 11.1% during the first quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock worth $108,927,000 after purchasing an additional 90,558 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Enphase Energy by 17.6% during the second quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock worth $82,434,000 after purchasing an additional 123,856 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

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.