Enphase Energy (NASDAQ:ENPH) Upgraded to “Hold” at StockNews.com

Enphase Energy (NASDAQ:ENPH) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages also recently commented on ENPH. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada dropped their target price on shares of Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Roth Mkm reduced their price target on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Barclays decreased their price target on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their target price on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Enphase Energy currently has an average rating of “Hold” and a consensus price target of $111.26.

Enphase Energy Stock Performance

NASDAQ:ENPH opened at $83.83 on Thursday. The firm has a market capitalization of $11.41 billion, a PE ratio of 43.66, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The firm’s fifty day simple moving average is $108.44 and its 200 day simple moving average is $111.79.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results 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 firm had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. On average, sell-side analysts anticipate that Enphase Energy will post 1.19 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors have recently bought and sold shares of ENPH. Benjamin Edwards Inc. increased its stake in shares of Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after buying an additional 93 shares in the last quarter. Hollencrest Capital Management increased its position in Enphase Energy by 3.3% in the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Enphase Energy by 0.9% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after acquiring an additional 100 shares during the last quarter. Green Alpha Advisors LLC lifted its position in shares of Enphase Energy by 1.4% during the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 102 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Enphase Energy by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after purchasing an additional 106 shares during 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.