BMO Capital Markets Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $66.00

Enphase Energy (NASDAQ:ENPH) had its price target cut by BMO Capital Markets from $69.00 to $66.00 in a research report report published on Wednesday,Benzinga reports. They currently have a market perform rating on the semiconductor company’s stock.

A number of other brokerages also recently weighed in on ENPH. Barclays decreased their price objective on shares of Enphase Energy from $114.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group dropped their price objective on Enphase Energy from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Craig Hallum reduced their target price 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. Piper Sandler dropped their price target on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Finally, Raymond James reduced their price objective on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $63.53 on Wednesday. The stock has a market cap of $8.58 billion, a PE ratio of 144.39, a price-to-earnings-growth ratio of 8.22 and a beta of 1.68. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The business has a 50-day simple moving average of $68.61 and a 200-day simple moving average of $88.50. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29.

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

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Saturna Capital Corp grew its stake in shares of Enphase Energy by 123.9% in the fourth quarter. Saturna Capital Corp now owns 6,515 shares of the semiconductor company’s stock valued at $447,000 after buying an additional 3,605 shares in the last quarter. Lane Generational LLC grew its position in Enphase Energy by 132.8% in the 4th quarter. Lane Generational LLC now owns 65,844 shares of the semiconductor company’s stock valued at $4,522,000 after acquiring an additional 37,564 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Enphase Energy by 9.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,526 shares of the semiconductor company’s stock worth $3,264,000 after purchasing an additional 3,911 shares during the period. Intellectus Partners LLC lifted its position in shares of Enphase Energy by 17.4% during the fourth quarter. Intellectus Partners LLC now owns 15,170 shares of the semiconductor company’s stock worth $1,042,000 after purchasing an additional 2,243 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Enphase Energy in the fourth quarter valued at approximately $175,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.