Enphase Energy (NASDAQ:ENPH) Given “Hold” Rating at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of Enphase Energy (NASDAQ:ENPH) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $76.00 target price on the semiconductor company’s stock.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group lowered Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. BMO Capital Markets lowered their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Morgan Stanley decreased their target price on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and cut their price objective for the company from $93.00 to $61.00 in a report on Thursday, November 7th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $102.09.

Enphase Energy Trading Up 0.3 %

NASDAQ ENPH opened at $63.59 on Tuesday. The company’s fifty day simple moving average is $91.80 and its 200-day simple moving average is $106.49. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. The stock has a market cap of $8.59 billion, a P/E ratio of 144.52, a PEG ratio of 18.81 and a beta of 1.77. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share 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 the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. Equities research analysts predict that Enphase Energy will post 0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. acquired a new position in Enphase Energy during the 3rd quarter worth about $210,000. Gould Capital LLC grew its position in shares of Enphase Energy by 2.1% in the 3rd quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company’s stock valued at $1,153,000 after buying an additional 212 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after acquiring an additional 20,579 shares during the period. Resources Management Corp CT ADV increased its position in Enphase Energy by 6.8% in the 3rd quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company’s stock valued at $513,000 after acquiring an additional 290 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of Enphase Energy by 4.0% in the 3rd quarter. M&T Bank Corp now owns 18,907 shares of the semiconductor company’s stock worth $2,137,000 after acquiring an additional 726 shares during the period. Institutional investors and hedge funds 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.