Craig Hallum Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $123.00

Enphase Energy (NASDAQ:ENPH) had its price target reduced by Craig Hallum from $153.00 to $123.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley lowered their target price on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Wednesday. Citigroup lowered their target price on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research note on Tuesday. Roth Mkm reissued a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a research note on Wednesday, July 24th. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 target price for the company. in a research note on Wednesday. Finally, Piper Sandler lowered their target price on shares of Enphase Energy from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $111.56.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH opened at $78.47 on Wednesday. The firm has a market cap of $10.68 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The firm’s fifty day moving average is $109.81 and its 200-day moving average is $112.23. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued 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). The business had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. Sell-side analysts predict that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently added to or reduced their stakes in ENPH. Manchester Capital Management LLC grew its position in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares in the last quarter. Chilton Capital Management LLC grew its position in shares of Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 246 shares during the period. UMB Bank n.a. grew its position 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 acquiring an additional 259 shares during the period. nVerses Capital LLC bought a new position in shares of Enphase Energy during the 3rd quarter valued at approximately $34,000. Finally, Quest Partners LLC grew its position in shares of Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 461 shares during the period. 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.