Piper Sandler Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by Piper Sandler from $70.00 to $65.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s target price suggests a potential downside of 2.27% from the stock’s current price.

ENPH has been the subject of a number of other research reports. Wells Fargo & Company dropped their target price on shares of Enphase Energy from $101.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Roth Mkm dropped their price objective on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Oppenheimer lifted their target price on shares of Enphase Energy from $101.00 to $103.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and lowered their price target for the company from $93.00 to $61.00 in a report on Thursday, November 7th. Finally, Evercore ISI reduced their price objective on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $90.42.

Enphase Energy Price Performance

ENPH opened at $66.51 on Wednesday. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The company’s 50 day simple moving average is $68.77 and its 200 day simple moving average is $88.79. The stock has a market capitalization of $8.99 billion, a PE ratio of 151.16, a P/E/G ratio of 8.22 and a beta of 1.68. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. As a group, sell-side analysts expect that Enphase Energy will post 0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Baillie Gifford & Co. raised its holdings in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock valued at $574,975,000 after buying an additional 2,028,691 shares during the last quarter. Swedbank AB raised its stake in Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after acquiring an additional 11,890 shares in the last quarter. Geode Capital Management LLC boosted its position in Enphase Energy by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after acquiring an additional 20,579 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after purchasing an additional 142,491 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after purchasing an additional 1,258,778 shares during the period. 72.12% of the stock is 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.