Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $90.00 at Northland Securities

Enphase Energy (NASDAQ:ENPH) had its target price trimmed by Northland Securities from $110.00 to $90.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

ENPH has been the topic of a number of other reports. Hsbc Global Res lowered shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets cut their price target on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a report on Monday, October 14th. TD Cowen dropped their target price on Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. HSBC cut Enphase Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $154.00 to $81.00 in a report on Friday, November 8th. Finally, Citigroup reduced their price objective on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $102.09.

Enphase Energy Stock Down 1.7 %

Shares of Enphase Energy stock opened at $61.36 on Tuesday. 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 has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The business has a 50-day moving average price of $93.59 and a 200 day moving average price of $107.09. The firm has a market cap of $8.29 billion, a P/E ratio of 139.45, a P/E/G ratio of 18.32 and a beta of 1.77.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Enphase Energy’s revenue for the quarter was down 30.9% compared to the same quarter last year. On average, sell-side analysts forecast that Enphase Energy will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors have recently made changes to their positions in ENPH. Benjamin Edwards Inc. grew its holdings in Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after purchasing an additional 93 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Enphase Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after acquiring an additional 100 shares in the last quarter. Green Alpha Advisors LLC grew its holdings in Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after buying an additional 102 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Enphase Energy by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after buying an additional 106 shares during the period. Finally, Centaurus Financial Inc. grew its holdings in shares of Enphase Energy by 10.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 118 shares during the period. Hedge funds and other 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.