Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $76.00 at Canaccord Genuity Group

Enphase Energy (NASDAQ:ENPH) had its price target reduced by Canaccord Genuity Group from $95.00 to $76.00 in a research note released on Tuesday,Benzinga reports. They currently have a hold rating on the semiconductor company’s stock.

ENPH has been the subject of several other research reports. Morgan Stanley lowered their price objective on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. Citigroup reduced their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. HSBC lowered 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. Finally, JPMorgan Chase & Co. lowered their price objective on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Four 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $102.76.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $59.52 on Tuesday. The firm has a 50 day simple moving average of $95.27 and a 200 day simple moving average of $107.76. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 135.27, a PEG ratio of 6.80 and a beta of 1.77. Enphase Energy has a one year low of $59.12 and a one year high of $141.63. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The firm’s revenue was down 30.9% on a year-over-year basis. Research analysts predict that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors have recently modified their holdings of ENPH. Avior Wealth Management LLC lifted its stake in Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 279 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC purchased a new stake in Enphase Energy during the 3rd quarter worth about $34,000. Stone House Investment Management LLC bought a new position in Enphase Energy in the 3rd quarter worth about $34,000. Finally, Quarry LP purchased a new position in Enphase Energy during the 3rd quarter valued at about $37,000. 72.12% of the stock is owned by institutional investors.

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.