Enphase Energy (NASDAQ:ENPH) Price Target Cut to $74.00 by Analysts at Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its target price trimmed by Morgan Stanley from $93.00 to $74.00 in a report published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. The Goldman Sachs Group decreased their price objective on Enphase Energy from $170.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Susquehanna reduced their price target on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Canaccord Genuity Group dropped their price objective on shares of Enphase Energy from $95.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Wednesday, October 23rd. Four equities research 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. Based on data from MarketBeat, Enphase Energy has an average rating of “Hold” and a consensus price target of $102.76.

Enphase Energy Trading Up 4.8 %

Shares of ENPH opened at $62.40 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 141.82, a PEG ratio of 18.20 and a beta of 1.77. The company has a 50-day moving average of $94.46 and a 200 day moving average of $107.46. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. On average, research analysts expect that Enphase Energy will post 0.91 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. raised its position in Enphase Energy by 0.9% during the third quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company’s stock valued at $716,897,000 after acquiring an additional 58,040 shares in the last quarter. Swedbank AB purchased a new position in shares of Enphase Energy during the 1st quarter valued at approximately $424,130,000. Geode Capital Management LLC increased its holdings in shares of Enphase Energy by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after purchasing an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Enphase Energy by 6.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company’s stock valued at $265,609,000 after purchasing an additional 142,491 shares during the period. Finally, Electron Capital Partners LLC boosted its holdings in Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Institutional investors and hedge funds 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.