Enphase Energy (NASDAQ:ENPH) Given New $72.00 Price Target at Citigroup

Enphase Energy (NASDAQ:ENPH) had its price target lifted by research analysts at Citigroup from $71.00 to $72.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s price objective points to a potential downside of 2.05% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Craig Hallum cut their price objective 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. Northland Securities lowered their target price on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price target for the company. in a report on Wednesday, October 23rd. Finally, Morgan Stanley lowered their price objective on Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $99.43.

Enphase Energy Stock Performance

ENPH opened at $73.51 on Wednesday. The firm’s fifty day simple moving average is $71.39 and its two-hundred day simple moving average is $94.86. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 167.07, a PEG ratio of 22.03 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.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was down 30.9% on a year-over-year basis. Equities analysts anticipate that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

A number of institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC acquired a new position in Enphase Energy during the second quarter worth about $1,076,000. TD Asset Management Inc raised its position in shares of Enphase Energy by 2.6% during the 2nd quarter. TD Asset Management Inc now owns 47,350 shares of the semiconductor company’s stock worth $4,721,000 after purchasing an additional 1,209 shares during the last quarter. National Bank of Canada FI raised its position in shares of Enphase Energy by 30.2% during the 2nd quarter. National Bank of Canada FI now owns 42,459 shares of the semiconductor company’s stock worth $4,129,000 after purchasing an additional 9,857 shares during the last quarter. Private Advisor Group LLC grew its holdings in Enphase Energy by 20.1% during the 2nd quarter. Private Advisor Group LLC now owns 19,046 shares of the semiconductor company’s stock valued at $1,899,000 after buying an additional 3,182 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Enphase Energy during the second quarter worth $431,000. 72.12% of the stock is currently 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.