Enphase Energy (NASDAQ:ENPH) PT Raised to $84.00

Enphase Energy (NASDAQ:ENPH) had its price objective hoisted by Bank of America from $82.00 to $84.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an underperform rating on the semiconductor company’s stock.

Several other brokerages have also recently weighed in on ENPH. Piper Sandler raised their target price on shares of Enphase Energy from $111.00 to $120.00 and gave the company a neutral rating in a report on Monday, July 22nd. Canaccord Genuity Group reduced their target price on shares of Enphase Energy from $150.00 to $140.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Craig Hallum raised their target price on shares of Enphase Energy from $147.00 to $153.00 and gave the company a buy rating in a report on Wednesday, July 24th. Barclays reduced their target price on shares of Enphase Energy from $131.00 to $129.00 and set an overweight rating on the stock in a report on Thursday, July 25th. Finally, Jefferies Financial Group reaffirmed a hold rating and issued a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Four 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. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $126.99.

Enphase Energy Trading Down 0.2 %

Shares of ENPH opened at $98.99 on Thursday. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $141.63. The firm has a 50-day moving average price of $112.43 and a 200 day moving average price of $113.77. The firm has a market capitalization of $13.41 billion, a P/E ratio of 109.00, a P/E/G ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data 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 net margin of 9.12% and a return on equity of 17.30%. The firm had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. During the same period in the prior year, the company posted $1.16 EPS. The company’s revenue for the quarter was down 57.3% compared to the same quarter last year. Sell-side analysts forecast that Enphase Energy will post 1.19 EPS for the current year.

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC grew its holdings in Enphase Energy by 821.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,756 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 2,457 shares during the period. Evexia Wealth LLC grew its holdings in Enphase Energy by 30.9% in the 3rd quarter. Evexia Wealth LLC now owns 3,014 shares of the semiconductor company’s stock valued at $321,000 after buying an additional 711 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Enphase Energy by 500.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the semiconductor company’s stock worth $136,000 after purchasing an additional 1,000 shares during the period. UMB Bank n.a. grew its holdings in shares of Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the period. Finally, Leibman Financial Services Inc. grew its holdings in shares of Enphase Energy by 1.7% during the 3rd quarter. Leibman Financial Services Inc. now owns 18,395 shares of the semiconductor company’s stock worth $2,079,000 after purchasing an additional 315 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.