Enphase Energy (NASDAQ:ENPH) Stock Gets Price Target Trim from Susquehanna

Enphase Energy (NASDAQ:ENPH) had its target price decreased by Susquehanna from $37.00 to $35.00 in a report released on Wednesday morning, MarketBeat Ratings reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

ENPH has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Enphase Energy in a research note on Friday, September 18th. TD Cowen decreased their target price on shares of Enphase Energy from $70.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Barclays decreased their target price on shares of Enphase Energy from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. Evercore restated a “positive” rating and set a $41.00 price target on shares of Enphase Energy in a report on Monday, August 17th. Finally, Royal Bank Of Canada dropped their price target on shares of Enphase Energy from $54.00 to $47.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and an average price target of $43.52.

Enphase Energy Trading Down 0.6%

NASDAQ:ENPH opened at $30.62 on Wednesday. The stock has a market cap of $4.05 billion, a PE ratio of 30.62 and a beta of 1.64. Enphase Energy has a fifty-two week low of $25.77 and a fifty-two week high of $73.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95. The stock’s 50-day moving average is $35.65 and its two-hundred day moving average is $41.35.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $291.85 million during the quarter, compared to analysts’ expectations of $289.76 million. Enphase Energy had a return on equity of 13.31% and a net margin of 10.09%. Enphase Energy’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. As a group, equities research analysts forecast that Enphase Energy will post 0.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard Mora sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $40.36, for a total value of $60,540.00. Following the completion of the sale, the director owned 10,422 shares of the company’s stock, valued at approximately $420,631.92. The trade was a 12.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. Handelsbanken Fonder AB raised its holdings in shares of Enphase Energy by 154.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,111,158 shares of the semiconductor company’s stock valued at $103,953,000 after purchasing an additional 1,283,052 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of Enphase Energy in the 2nd quarter valued at $6,766,000. SIR Capital Management L.P. acquired a new stake in shares of Enphase Energy in the 2nd quarter valued at $10,858,000. Bank of New York Mellon Corp acquired a new stake in shares of Enphase Energy in the 2nd quarter valued at $43,921,000. Finally, Bank of America Corp DE bought a new stake in Enphase Energy in the second quarter worth $19,333,000. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy, Inc develops and manufactures energy technology for residential and commercial solar power systems. The company is best known for its microinverters, which convert electricity generated by individual solar panels from direct current into alternating current for use in homes and businesses or delivery to the electric grid.

Its product portfolio also includes battery storage systems, energy management and monitoring software, electric vehicle chargers, and related communications hardware.