Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $105.00 at The Goldman Sachs Group

Enphase Energy (NASDAQ:ENPH) had its price target dropped by research analysts at The Goldman Sachs Group from $121.00 to $105.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 63.32% from the stock’s current price.

Several other brokerages have also commented on ENPH. Morgan Stanley decreased their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Roth Mkm reduced their target price on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Susquehanna reduced their target price on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. BMO Capital Markets reduced their target price on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company reduced their target price on shares of Enphase Energy from $101.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average price target of $94.09.

Enphase Energy Stock Up 5.4 %

Shares of NASDAQ ENPH opened at $64.29 on Wednesday. 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 has a 12 month low of $58.33 and a 12 month high of $141.63. The firm has a market capitalization of $8.69 billion, a PE ratio of 146.11, a price-to-earnings-growth ratio of 8.02 and a beta of 1.68. The firm has a fifty day simple moving average of $69.30 and a two-hundred day simple moving average of $91.99.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter last year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year. Equities analysts expect that Enphase Energy will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently made changes to their positions in the business. Avior Wealth Management LLC lifted its stake in shares of Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares during the period. UMB Bank n.a. lifted its stake in shares of Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC bought a new position in shares of Enphase Energy in the 3rd quarter worth approximately $34,000. Stone House Investment Management LLC bought a new position in shares of Enphase Energy in the 3rd quarter worth approximately $34,000. Finally, Quarry LP bought a new stake in Enphase Energy during the 3rd quarter worth approximately $37,000. 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.