Morgan Stanley Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $74.00

Enphase Energy (NASDAQ:ENPH) had its price objective trimmed by Morgan Stanley from $93.00 to $74.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

A number of other brokerages have also commented on ENPH. Roth Mkm dropped their price target on Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Janney Montgomery Scott lowered Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research note on Wednesday, October 23rd. Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective for the company. in a research note on Wednesday, October 23rd. BMO Capital Markets lowered their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Finally, Craig Hallum lowered their price objective on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $102.76.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $59.52 on Friday. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 135.27, a price-to-earnings-growth ratio of 18.20 and a beta of 1.77. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $95.27 and a 200-day moving average price of $107.77. Enphase Energy has a twelve month low of $59.12 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million during 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 business’s revenue was down 30.9% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. As a group, equities research analysts predict that Enphase Energy will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ENPH. Avior Wealth Management LLC raised its position in shares of Enphase Energy by 6,975.0% during the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 279 shares during the last quarter. UMB Bank n.a. raised its position in shares of 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 last quarter. nVerses Capital LLC acquired a new position in shares of Enphase Energy during the 3rd quarter worth approximately $34,000. Stone House Investment Management LLC acquired a new position in shares of Enphase Energy during the 3rd quarter worth approximately $34,000. Finally, Quarry LP acquired a new position in shares of Enphase Energy during the 3rd quarter worth approximately $37,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.