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

Enphase Energy (NASDAQ:ENPH) had its price target lifted by equities researchers at Oppenheimer from $101.00 to $103.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective indicates a potential upside of 53.26% from the stock’s previous close.

Several other equities research analysts have also issued reports on ENPH. Truist Financial reissued a “hold” rating and set a $65.00 price objective (down previously from $100.00) on shares of Enphase Energy in a research note on Thursday, January 16th. Wells Fargo & Company dropped their target price on Enphase Energy from $101.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. HSBC cut shares of Enphase Energy from a “buy” rating to a “hold” rating and reduced their price target for the company from $154.00 to $81.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Susquehanna decreased their target price on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $91.26.

Enphase Energy Stock Performance

Enphase Energy stock traded up $0.96 during mid-day trading on Wednesday, reaching $67.21. The company’s stock had a trading volume of 4,166,224 shares, compared to its average volume of 3,683,722. The company has a market capitalization of $9.08 billion, a P/E ratio of 153.63, a PEG ratio of 8.22 and a beta of 1.68. The firm’s fifty day moving average price is $69.02 and its two-hundred day moving average price is $89.11. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data 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%. Sell-side analysts predict that Enphase Energy will post 0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. raised its stake in Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after purchasing an additional 2,028,691 shares during the period. Nordea Investment Management AB raised its position in shares of Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after buying an additional 1,258,778 shares during the period. Mizuho Securities USA LLC grew its position in Enphase Energy by 4,177.9% in the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after acquiring an additional 438,424 shares during the period. Aspex Management HK Ltd acquired a new stake in Enphase Energy during the third quarter worth $48,442,000. Finally, Montrusco Bolton Investments Inc. lifted its stake in shares of Enphase Energy by 93.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock valued at $99,295,000 after purchasing an additional 424,327 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.