Enphase Energy (NASDAQ:ENPH) Price Target Cut to $114.00 by Analysts at Barclays

Enphase Energy (NASDAQ:ENPH) had its target price cut by Barclays from $129.00 to $114.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

ENPH has been the subject of several other reports. William Blair began coverage on Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Roth Mkm lowered their price objective on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Citigroup lowered their price objective on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Truist Financial lowered their price objective on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered 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. Three 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Trading Up 3.4 %

ENPH opened at $83.83 on Wednesday. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 190.52, a PEG ratio of 8.07 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. The business has a fifty day moving average price of $108.44 and a 200 day moving average price of $111.72.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. Sell-side analysts expect that Enphase Energy will post 1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Manchester Capital Management LLC increased its position in Enphase Energy by 1,068.4% during the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC increased its position in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the period. UMB Bank n.a. increased its position in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the period. nVerses Capital LLC acquired a new position in Enphase Energy during the 3rd quarter worth approximately $34,000. Finally, Quest Partners LLC increased its position 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 purchasing an additional 461 shares during the period. Institutional investors and hedge funds 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.