Northland Securities Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $110.00

Enphase Energy (NASDAQ:ENPH) had its target price decreased by Northland Securities from $150.00 to $110.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price target suggests a potential upside of 31.22% from the stock’s current price.

Several other brokerages also recently commented on ENPH. TD Cowen dropped their target price on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group decreased 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. William Blair assumed coverage on Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating on the stock. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $111.26.

Enphase Energy Price Performance

NASDAQ ENPH opened at $83.83 on Thursday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The stock’s 50-day moving average is $108.44 and its two-hundred day moving average is $111.79. The firm has a market cap of $11.41 billion, a P/E ratio of 43.66, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. 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 (NASDAQ:ENPH) last posted its earnings results 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). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the firm posted $0.84 earnings per share. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year. On average, analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Manchester Capital Management LLC raised its position in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares during the last quarter. Chilton Capital Management LLC increased its stake in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 246 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new position in Enphase Energy during the 3rd quarter worth about $34,000. Finally, Quest Partners LLC grew its holdings in Enphase Energy by 11,525.0% during the 2nd quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 461 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

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.