Enphase Energy (NASDAQ:ENPH) Downgraded by Susquehanna to “Neutral”

Enphase Energy (NASDAQ:ENPH) was downgraded by equities research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $104.00 price objective on the semiconductor company’s stock, down from their previous price objective of $147.00. Susquehanna’s price target suggests a potential upside of 13.57% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets cut their price target 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. Canaccord Genuity Group dropped their target price on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Glj Research assumed coverage on Enphase Energy in a research note on Tuesday, June 25th. They issued a “sell” rating and a $45.82 price target for the company. Guggenheim dropped their price objective on Enphase Energy from $93.00 to $90.00 and set a “sell” rating on the stock in a research note on Friday, October 4th. Finally, BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and raised their target price for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $122.96.

Enphase Energy Stock Down 1.7 %

NASDAQ:ENPH opened at $91.57 on Wednesday. The stock has a 50-day simple moving average of $111.57 and a 200 day simple moving average of $113.05. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The company has a market cap of $12.46 billion, a PE ratio of 47.69, a PEG ratio of 5.57 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 (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy’s revenue was down 57.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share. On average, sell-side analysts expect that Enphase Energy will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

A number of hedge funds have recently added to or reduced their stakes in ENPH. Swedbank AB grew its holdings in shares of Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock worth $391,442,000 after purchasing an additional 11,890 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Enphase Energy by 48.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after buying an additional 29,013 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Enphase Energy by 364.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after buying an additional 85,284 shares in the last quarter. Doheny Asset Management CA bought a new stake in shares of Enphase Energy during the 2nd quarter worth approximately $8,095,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Enphase Energy by 54.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock worth $4,438,000 after acquiring an additional 15,776 shares in the last quarter. 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.