Enphase Energy (NASDAQ:ENPH) Price Target Raised to $102.00 at Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its price target raised by Morgan Stanley from $100.00 to $102.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

Several other research firms have also recently issued reports on ENPH. Royal Bank of Canada decreased their price target on Enphase Energy from $130.00 to $125.00 and set an outperform rating on the stock in a report on Wednesday, July 24th. Glj Research assumed coverage on shares of Enphase Energy in a research report on Tuesday, June 25th. They set a sell rating and a $45.82 price target for the company. Bank of America dropped their price target on shares of Enphase Energy from $71.00 to $70.00 and set an underperform rating for the company in a research note on Wednesday, July 17th. BNP Paribas raised shares of Enphase Energy from a neutral rating to an outperform rating and raised their price objective for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group reiterated a hold rating and set a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $126.49.

Enphase Energy Stock Up 1.1 %

Shares of NASDAQ ENPH opened at $105.32 on Wednesday. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $141.63. The firm’s 50-day simple moving average is $112.64 and its 200 day simple moving average is $113.87. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The company has a market cap of $14.33 billion, a price-to-earnings ratio of 54.85, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. Enphase Energy’s revenue for the quarter was down 57.3% on a year-over-year basis. On average, research analysts expect that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after buying an additional 192,854 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Enphase Energy by 57.9% in the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after acquiring an additional 2,304,408 shares during the last quarter. Swedbank AB bought a new stake in Enphase Energy during the first quarter worth about $424,130,000. Electron Capital Partners LLC boosted its position in Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after purchasing an additional 1,078,154 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Enphase Energy by 11.1% during the first quarter. Nordea Investment Management AB now owns 907,722 shares of the semiconductor company’s stock valued at $108,927,000 after purchasing an additional 90,558 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.