Enphase Energy (NASDAQ:ENPH) Downgraded by Jefferies Financial Group to “Underperform”

Jefferies Financial Group downgraded shares of Enphase Energy (NASDAQ:ENPH) from a hold rating to an underperform rating in a report published on Thursday morning, Marketbeat.com reports. They currently have $61.00 target price on the semiconductor company’s stock, down from their prior target price of $93.00.

Other research analysts also recently issued research reports about the stock. Morgan Stanley decreased their price objective on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Bank of America lifted 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. StockNews.com upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. 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. Finally, Craig Hallum dropped their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $104.03.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $66.90 on Thursday. Enphase Energy has a fifty-two week low of $65.66 and a fifty-two week high of $141.63. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 152.05, a PEG ratio of 8.40 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. The business has a 50-day moving average of $100.48 and a 200-day moving average of $109.46.

Enphase Energy (NASDAQ:ENPH) last announced 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 company had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. As a group, sell-side analysts predict that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Large investors have recently made changes to their positions in the company. Norden Group LLC acquired a new stake in shares of Enphase Energy in the 1st quarter valued at $209,000. Texas Permanent School Fund Corp boosted its stake in Enphase Energy by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 28,065 shares of the semiconductor company’s stock valued at $3,395,000 after buying an additional 452 shares in the last quarter. Manchester Capital Management LLC grew its position in Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 203 shares during the last quarter. Empirical Finance LLC raised its stake in Enphase Energy by 4.6% during the first quarter. Empirical Finance LLC now owns 3,787 shares of the semiconductor company’s stock worth $458,000 after acquiring an additional 166 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Enphase Energy by 11.5% in the first quarter. Oppenheimer & Co. Inc. now owns 20,959 shares of the semiconductor company’s stock worth $2,536,000 after acquiring an additional 2,164 shares during the last quarter. Institutional investors and hedge funds 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.