Enphase Energy (NASDAQ:ENPH) Given New $86.00 Price Target at Barclays

Enphase Energy (NASDAQ:ENPH) had its price objective trimmed by Barclays from $91.00 to $86.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

Several other brokerages have also recently issued reports on ENPH. Canaccord Genuity Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lowered their target price on Enphase Energy from $101.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Roth Mkm reduced their price target on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Northland Securities lowered their price objective on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, Truist Financial reiterated a “hold” rating and issued a $65.00 target price (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $66.51 on Thursday. The firm’s 50 day simple moving average is $68.77 and its 200 day simple moving average is $88.79. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 151.16, a P/E/G ratio of 8.22 and a beta of 1.68. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. As a group, research analysts expect that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Institutional investors have recently made changes to their positions in the company. E Fund Management Co. Ltd. boosted its holdings in Enphase Energy by 50.1% during the fourth quarter. E Fund Management Co. Ltd. now owns 2,925 shares of the semiconductor company’s stock worth $201,000 after purchasing an additional 976 shares during the last quarter. Candriam S.C.A. grew its position in shares of Enphase Energy by 247.0% during the 4th quarter. Candriam S.C.A. now owns 68,712 shares of the semiconductor company’s stock valued at $4,719,000 after acquiring an additional 48,910 shares during the period. Inceptionr LLC raised its holdings in shares of Enphase Energy by 69.2% in the 4th quarter. Inceptionr LLC now owns 6,553 shares of the semiconductor company’s stock worth $450,000 after purchasing an additional 2,679 shares during the period. Arizona State Retirement System grew its holdings in Enphase Energy by 0.9% during the fourth quarter. Arizona State Retirement System now owns 39,318 shares of the semiconductor company’s stock valued at $2,700,000 after purchasing an additional 336 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Enphase Energy in the fourth quarter worth $1,528,000. Institutional investors own 72.12% of the company’s stock.

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.