Northland Securities Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $90.00

Enphase Energy (NASDAQ:ENPH) had its target price trimmed by Northland Securities from $110.00 to $90.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group reduced their target price on Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Hsbc Global Res lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. BNP Paribas downgraded Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research note on Friday, November 8th. Finally, Morgan Stanley dropped their price target on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $102.09.

Enphase Energy Stock Up 0.3 %

Shares of ENPH opened at $63.59 on Tuesday. The business’s 50 day simple moving average is $91.80 and its 200-day simple moving average is $106.49. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 144.52, a price-to-earnings-growth ratio of 18.81 and a beta of 1.77. 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 announced 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 during 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 firm’s revenue was down 30.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 EPS. As a group, equities analysts expect that Enphase Energy will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in Enphase Energy during the first quarter worth $424,130,000. Baillie Gifford & Co. grew its holdings in Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after purchasing an additional 2,304,408 shares during the period. Electron Capital Partners LLC grew its stake in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after buying an additional 1,078,154 shares during the period. Anomaly Capital Management LP acquired a new stake in Enphase Energy during the second quarter worth about $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new position in Enphase Energy in the first quarter valued at approximately $59,128,000. 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.