Enphase Energy (NASDAQ:ENPH) PT Lowered to $100.00 at Roth Mkm

Enphase Energy (NASDAQ:ENPH) had its target price lowered by analysts at Roth Mkm from $130.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Mkm’s target price would indicate a potential upside of 24.12% from the company’s previous close.

Other analysts have also issued reports about the company. Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target on the stock. in a report on Wednesday. William Blair assumed coverage on Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating on the stock. Royal Bank of Canada lowered Enphase Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $125.00 to $100.00 in a report on Tuesday, October 15th. Canaccord Genuity Group lowered Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Craig Hallum lowered their target price on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $114.39.

Enphase Energy Stock Down 12.6 %

Shares of NASDAQ:ENPH traded down $11.66 during mid-day trading on Wednesday, hitting $80.57. 13,261,677 shares of the company traded hands, compared to its average volume of 3,776,221. The stock has a market cap of $10.96 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.57 and a beta of 1.72. 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 stock has a 50-day moving average price of $110.47 and a two-hundred day moving average price of $112.47.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results 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). The company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. On average, equities research analysts forecast that Enphase Energy will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Enphase Energy during the 3rd quarter valued at about $6,387,000. Eastern Bank bought a new position in shares of Enphase Energy during the 3rd quarter valued at about $1,065,000. Signaturefd LLC increased its position in shares of Enphase Energy by 29.7% during the 3rd quarter. Signaturefd LLC now owns 1,240 shares of the semiconductor company’s stock valued at $140,000 after purchasing an additional 284 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Enphase Energy during the 3rd quarter valued at about $243,000. Finally, Jade Capital Advisors LLC increased its position in shares of Enphase Energy by 66.7% during the 3rd quarter. Jade Capital Advisors LLC now owns 5,000 shares of the semiconductor company’s stock valued at $565,000 after purchasing an additional 2,000 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.