Enphase Energy (NASDAQ:ENPH) Price Target Raised to $84.00 at Bank of America

by · The Cerbat Gem

Enphase Energy (NASDAQ:ENPH – Free Report) had its target price upped by Bank of America from $82.00 to $84.00 in a report released on Thursday morning, Benzinga reports. Bank of America currently has an underperform rating on the semiconductor company’s stock.

ENPH has been the subject of a number of other research reports. Morgan Stanley upped their target price on shares of Enphase Energy from $100.00 to $102.00 and gave the stock an equal weight rating in a research report on Wednesday. Jefferies Financial Group restated a hold rating and set a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Guggenheim decreased their price target on shares of Enphase Energy from $93.00 to $90.00 and set a sell rating on the stock in a research note on Friday, October 4th. BMO Capital Markets decreased their price target on shares of Enphase Energy from $115.00 to $114.00 and set a market perform rating on the stock in a research note on Wednesday, October 2nd. Finally, Barclays decreased their price target on shares of Enphase Energy from $131.00 to $129.00 and set an overweight rating on the stock in a research note on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $126.99.

Check Out Our Latest Research Report on ENPH

Enphase Energy Stock Performance

ENPH opened at $98.99 on Thursday. The firm has a market cap of $13.41 billion, a P/E ratio of 109.00, a PEG ratio of 5.57 and a beta of 1.72. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The company has a 50 day simple moving average of $112.43 and a two-hundred day simple moving average of $113.77. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The company had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. During the same quarter in the prior year, the company posted $1.16 EPS. Enphase Energy’s revenue was down 57.3% compared to the same quarter last year. Equities analysts forecast that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale increased its holdings in shares of Enphase Energy by 48.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 88,696 shares of the semiconductor company’s stock valued at $10,658,000 after purchasing an additional 29,013 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Enphase Energy by 364.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 108,674 shares of the semiconductor company’s stock valued at $13,147,000 after purchasing an additional 85,284 shares in the last quarter. Doheny Asset Management CA purchased a new position in shares of Enphase Energy during the 2nd quarter valued at approximately $8,095,000. Envestnet Asset Management Inc. increased its holdings in shares of Enphase Energy by 54.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 44,510 shares of the semiconductor company’s stock valued at $4,438,000 after purchasing an additional 15,776 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in Enphase Energy by 18.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 40,281 shares of the semiconductor company’s stock valued at $4,553,000 after acquiring an additional 6,143 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

About Enphase Energy

(Get Free Report)

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.

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