Piper Sandler Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $70.00

Enphase Energy (NASDAQ:ENPH) had its target price trimmed by Piper Sandler from $85.00 to $70.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the company. TD Cowen lowered their target price on Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets lowered their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Hsbc Global Res cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Susquehanna reduced their price target on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.13.

Enphase Energy Stock Up 4.3 %

ENPH opened at $66.29 on Friday. The business has a 50 day moving average price of $91.80 and a two-hundred day moving average price of $106.49. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The company has a market cap of $8.96 billion, a PE ratio of 150.66, a P/E/G ratio of 19.49 and a beta of 1.77. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. As a group, research analysts anticipate that Enphase Energy will post 0.91 EPS for the current year.

Institutional Trading of Enphase Energy

Several large investors have recently modified their holdings of the business. Baillie Gifford & Co. grew its stake in shares of Enphase Energy by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after acquiring an additional 58,040 shares in the last quarter. Swedbank AB acquired a new stake in shares of Enphase Energy during the first quarter valued at about $424,130,000. Geode Capital Management LLC grew its stake in Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock worth $381,030,000 after purchasing an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Enphase Energy by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock worth $265,609,000 after purchasing an additional 142,491 shares in the last quarter. Finally, Electron Capital Partners LLC grew its stake in Enphase Energy by 1,021.4% in the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after purchasing an additional 1,078,154 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.