Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $104.00 at BMO Capital Markets

Enphase Energy (NASDAQ:ENPH) had its target price cut by BMO Capital Markets from $114.00 to $104.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a market perform rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler increased their target price on Enphase Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Jefferies Financial Group reissued a “hold” rating and set a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Guggenheim decreased their target price on shares of Enphase Energy from $93.00 to $90.00 and set a “sell” rating for the company in a report on Friday, October 4th. Canaccord Genuity Group dropped their target price 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. Finally, Roth Mkm reissued a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $122.96.

Enphase Energy Trading Down 1.7 %

Shares of NASDAQ ENPH opened at $91.57 on Monday. The stock has a market cap of $12.46 billion, a P/E ratio of 47.69, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. The firm has a 50-day moving average of $111.57 and a 200 day moving average of $113.05.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results 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 company had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, sell-side analysts expect that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC raised its position in shares of Enphase Energy by 19.5% during the third quarter. V Square Quantitative Management LLC now owns 3,755 shares of the semiconductor company’s stock valued at $424,000 after buying an additional 612 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Enphase Energy by 1.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,956 shares of the semiconductor company’s stock valued at $2,708,000 after acquiring an additional 322 shares in the last quarter. nVerses Capital LLC bought a new stake in Enphase Energy in the 3rd quarter valued at $34,000. MN Wealth Advisors LLC lifted its stake in Enphase Energy by 18.2% in the 3rd quarter. MN Wealth Advisors LLC now owns 6,281 shares of the semiconductor company’s stock worth $710,000 after purchasing an additional 966 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.