Enphase Energy (NASDAQ:ENPH) PT Lowered to $85.00 at Piper Sandler

Enphase Energy (NASDAQ:ENPH) had its price target trimmed by Piper Sandler from $105.00 to $85.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Several other brokerages have also recently commented on ENPH. JPMorgan Chase & Co. upped their target price on Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. TD Cowen decreased their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday. Citigroup dropped their target price on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday. Bank of America increased their price target on Enphase Energy from $82.00 to $84.00 and gave the stock an “underperform” rating in a report on Thursday, October 10th. Finally, Truist Financial cut their target price on Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Trading Up 3.4 %

ENPH opened at $83.83 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The company’s 50 day moving average price is $108.44 and its two-hundred day moving average price is $111.79. The firm has a market capitalization of $11.41 billion, a price-to-earnings ratio of 43.66, a PEG ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data 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 company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, research analysts predict that Enphase Energy will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its position in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Swedbank AB purchased a new stake in shares of Enphase Energy during the first quarter valued at approximately $424,130,000. Electron Capital Partners LLC lifted its holdings in Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after acquiring an additional 1,078,154 shares during the period. Nordea Investment Management AB boosted its position in Enphase Energy by 11.1% in the first quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock worth $108,927,000 after purchasing an additional 90,558 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Enphase Energy by 17.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock valued at $82,434,000 after purchasing an additional 123,856 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.