Enphase Energy (NASDAQ:ENPH) Price Target Cut to $90.00 by Analysts at Northland Securities

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Northland Securities from $110.00 to $90.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada dropped their target price on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. William Blair began coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating on the stock. Truist Financial reduced their target price on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Barclays decreased their price target on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Raymond James dropped their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $102.09.

Enphase Energy Stock Performance

Shares of ENPH opened at $61.36 on Tuesday. The business has a fifty day moving average of $93.59 and a 200 day moving average of $107.09. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm has a market capitalization of $8.29 billion, a P/E ratio of 139.45, a PEG ratio of 18.32 and a beta of 1.77. Enphase Energy has a one year low of $58.33 and a one year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business 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%. The company’s revenue was down 30.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. As a group, sell-side analysts anticipate that Enphase Energy will post 0.91 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its stake in Enphase Energy by 0.9% during 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 purchased a new stake in shares of Enphase Energy during the first quarter worth approximately $424,130,000. Geode Capital Management LLC lifted its stake in shares of Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after acquiring an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 in the last quarter. Finally, Electron Capital Partners LLC grew 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 buying an additional 1,078,154 shares during the period. 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.