Barclays Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $91.00

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Barclays from $114.00 to $91.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

A number of other analysts have also issued reports on the company. Piper Sandler reduced their target price on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, November 22nd. HSBC downgraded Enphase Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $154.00 to $81.00 in a research note on Friday, November 8th. TD Cowen dropped 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. Morgan Stanley reduced their price target on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, November 15th. Finally, Citigroup boosted their price objective on shares of Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $97.09.

Enphase Energy Trading Down 2.1 %

NASDAQ:ENPH opened at $65.45 on Tuesday. The stock has a fifty day simple moving average of $70.12 and a 200 day simple moving average of $93.84. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of 148.75, a price-to-earnings-growth ratio of 21.92 and a beta of 1.68. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63. 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 announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 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 business earned $0.84 earnings per share. The business’s quarterly revenue was down 30.9% compared to the same quarter last year. Sell-side analysts forecast that Enphase Energy will post 0.94 earnings per share for the current year.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its holdings in Enphase Energy by 372.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 463,452 shares of the semiconductor company’s stock valued at $31,830,000 after buying an additional 365,356 shares during the last quarter. Signal Advisors Wealth LLC boosted its position in shares of Enphase Energy by 99.2% in the fourth quarter. Signal Advisors Wealth LLC now owns 19,988 shares of the semiconductor company’s stock valued at $1,373,000 after acquiring an additional 9,955 shares during the period. Leibman Financial Services Inc. grew its stake in shares of Enphase Energy by 58.6% in the fourth quarter. Leibman Financial Services Inc. now owns 29,169 shares of the semiconductor company’s stock worth $2,003,000 after acquiring an additional 10,774 shares during the last quarter. Eastern Bank increased its position in Enphase Energy by 29.7% during the fourth quarter. Eastern Bank now owns 12,225 shares of the semiconductor company’s stock worth $840,000 after acquiring an additional 2,800 shares during the period. Finally, TT International Asset Management LTD acquired a new position in Enphase Energy during the 4th quarter valued at $484,000. 72.12% of the stock is currently owned by 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.