Susquehanna Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $85.00

Enphase Energy (NASDAQ:ENPH) had its price target cut by Susquehanna from $104.00 to $85.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on ENPH. Canaccord Genuity Group reissued a “hold” rating and set a $95.00 price objective (down previously from $140.00) on shares of Enphase Energy in a research report on Wednesday. Raymond James lowered their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday. Canaccord Genuity Group lowered Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday. William Blair began coverage on Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, Roth Mkm cut their target price on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Stock Performance

ENPH stock opened at $83.83 on Thursday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The firm has a market cap of $11.35 billion, a PE ratio of 190.52, a P/E/G ratio of 8.07 and a beta of 1.72. The business’s 50-day moving average price is $108.44 and its two-hundred day moving average price is $111.72.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.57%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same quarter last year, the firm earned $0.84 EPS. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. As a group, research analysts forecast that Enphase Energy will post 1.18 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently bought and sold shares of the stock. abrdn plc grew its position in shares of Enphase Energy by 37.0% in the third quarter. abrdn plc now owns 571,481 shares of the semiconductor company’s stock valued at $64,749,000 after purchasing an additional 154,231 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Enphase Energy by 6.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 15,729 shares of the semiconductor company’s stock valued at $1,777,000 after purchasing an additional 975 shares during the period. Clear Harbor Asset Management LLC grew its holdings in Enphase Energy by 2.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 178,814 shares of the semiconductor company’s stock valued at $20,210,000 after buying an additional 3,447 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Enphase Energy by 19.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,111 shares of the semiconductor company’s stock worth $804,000 after buying an additional 1,156 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Enphase Energy by 23.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,860 shares of the semiconductor company’s stock worth $11,484,000 after buying an additional 18,960 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Company Profile

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.