Piper Sandler Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $65.00

Enphase Energy (NASDAQ:ENPH) had its target price decreased by Piper Sandler from $70.00 to $65.00 in a report published on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on the company. Roth Mkm lowered their price target on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Craig Hallum lowered their target price on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday. Hsbc Global Res downgraded shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price objective on shares of Enphase Energy from $112.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, Bank of America dropped their target price on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $90.79.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $65.26 on Wednesday. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The firm’s 50-day moving average is $68.88 and its 200 day moving average is $88.95. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 148.32, a PEG ratio of 8.22 and a beta of 1.68. 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 issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate that Enphase Energy will post 0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ENPH. Creative Financial Designs Inc. ADV boosted its holdings in Enphase Energy by 19.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock valued at $87,000 after acquiring an additional 125 shares during the period. Empirical Finance LLC boosted its stake in shares of Enphase Energy by 3.9% during the third quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock valued at $415,000 after purchasing an additional 137 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Enphase Energy by 5.2% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock worth $354,000 after purchasing an additional 153 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Enphase Energy by 19.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,085 shares of the semiconductor company’s stock worth $123,000 after buying an additional 174 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Enphase Energy by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 54,912 shares of the semiconductor company’s stock worth $6,206,000 after buying an additional 190 shares during the period. 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.