Enphase Energy (NASDAQ:ENPH) PT Lowered to $120.00

Enphase Energy (NASDAQ:ENPH) had its target price cut by research analysts at JPMorgan Chase & Co. from $130.00 to $120.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 53.51% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ENPH. Morgan Stanley lowered their price objective on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Citigroup lowered their price target on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday. Royal Bank of Canada cut shares of Enphase Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $125.00 to $100.00 in a research note on Tuesday, October 15th. Canaccord Genuity Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, TD Cowen dropped their target price on Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus target price of $114.06.

Enphase Energy Stock Performance

Shares of ENPH stock traded down $14.06 during trading hours on Wednesday, hitting $78.17. 15,677,022 shares of the company were exchanged, compared to its average volume of 3,784,718. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 40.98, a P/E/G ratio of 5.57 and a beta of 1.72. The firm has a fifty day simple moving average of $110.47 and a 200 day simple moving average of $112.47. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm 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 9.12% and a return on equity of 17.30%. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. Research analysts predict that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in ENPH. Manchester Capital Management LLC lifted its stake in Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares during the last quarter. Chilton Capital Management LLC boosted its holdings in 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 Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC purchased a new position in Enphase Energy in the 3rd quarter worth approximately $34,000. Finally, Quest Partners LLC lifted its position in Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 461 shares during the last quarter. Hedge funds and other 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.