Morgan Stanley Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target decreased by analysts at Morgan Stanley from $68.00 to $67.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price target would indicate a potential upside of 0.74% from the company’s previous close.

ENPH has been the subject of several other research reports. TD Cowen decreased their price target on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, January 27th. Craig Hallum decreased their price target on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Glj Research reaffirmed a “sell” rating and issued a $50.69 price objective on shares of Enphase Energy in a research report on Tuesday. Susquehanna cut their price objective on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Finally, Royal Bank of Canada cut their price objective on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Price Performance

Shares of ENPH stock opened at $66.51 on Wednesday. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 151.16, a price-to-earnings-growth ratio of 8.22 and a beta of 1.68. 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 firm has a fifty day moving average of $68.77 and a 200-day moving average of $88.79.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. On average, equities research analysts forecast that Enphase Energy will post 0.92 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV grew its position in shares of Enphase Energy by 19.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock valued at $87,000 after purchasing an additional 125 shares during the last quarter. Empirical Finance LLC grew its position in shares of Enphase Energy by 3.9% in the third quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock valued at $415,000 after purchasing an additional 137 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Enphase Energy by 5.2% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock valued at $354,000 after purchasing an additional 153 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Enphase Energy by 19.1% in the third quarter. Farther Finance Advisors LLC now owns 1,085 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 174 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Enphase Energy by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 54,912 shares of the semiconductor company’s stock valued at $6,206,000 after purchasing an additional 190 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.