Enphase Energy (NASDAQ:ENPH) PT Lowered to $145.00 at The Goldman Sachs Group

Enphase Energy (NASDAQ:ENPH) had its target price lowered by The Goldman Sachs Group from $170.00 to $145.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Raymond James decreased their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday. Canaccord Genuity Group reissued a “hold” rating and issued a $95.00 price target (down from $140.00) on shares of Enphase Energy in a research note on Wednesday. Barclays reduced their price objective on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Finally, BNP Paribas raised Enphase Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $111.26.

Enphase Energy Stock Up 3.4 %

Shares of NASDAQ:ENPH opened at $83.83 on Wednesday. The firm has a market capitalization of $11.35 billion, a PE ratio of 190.52, a price-to-earnings-growth ratio of 8.07 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The firm has a fifty day moving average of $108.44 and a 200 day moving average of $111.72.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. As a group, research analysts anticipate that Enphase Energy will post 1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its position in shares of Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after purchasing an additional 2,304,408 shares in the last quarter. Swedbank AB bought a new stake in Enphase Energy in the first quarter worth $424,130,000. Electron Capital Partners LLC grew its stake in shares of Enphase Energy by 1,021.4% in 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 last quarter. Nordea Investment Management AB increased its holdings in shares of Enphase Energy by 11.1% during the first quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after acquiring an additional 90,558 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Enphase Energy by 17.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 826,742 shares of the semiconductor company’s stock worth $82,434,000 after purchasing an additional 123,856 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.

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.