Enphase Energy (NASDAQ:ENPH – Get Free Report) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $199.00 to $169.00 in a research note issued on Friday, MarketBeat reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 40.48% from the company’s current price.
A number of other research firms have also recently weighed in on ENPH. The Goldman Sachs Group lowered their price objective on Enphase Energy from $250.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, July 31st. Bank of America lowered their price objective on Enphase Energy from $169.00 to $168.00 in a research report on Wednesday, July 12th. Wells Fargo & Company cut Enphase Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $230.00 to $171.00 in a research report on Friday, July 28th. StockNews.com began coverage on Enphase Energy in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Piper Sandler lowered their price target on Enphase Energy from $210.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.52.
Check Out Our Latest Report on ENPH
Enphase Energy Trading Down 1.6 %
Shares of NASDAQ:ENPH opened at $120.30 on Friday. Enphase Energy has a 12-month low of $118.14 and a 12-month high of $339.92. The business’s fifty day simple moving average is $144.64 and its 200-day simple moving average is $170.92. The company has a market capitalization of $16.40 billion, a PE ratio of 30.30, a P/E/G ratio of 1.37 and a beta of 1.52. The company has a current ratio of 3.44, a quick ratio of 3.22 and a debt-to-equity ratio of 1.23.
Enphase Energy (NASDAQ:ENPH – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.21. The business had revenue of $711.12 million for the quarter, compared to the consensus estimate of $726.94 million. Enphase Energy had a return on equity of 71.20% and a net margin of 20.48%. As a group, equities research analysts predict that Enphase Energy will post 3.77 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Enphase Energy
Several large investors have recently bought and sold shares of ENPH. Panagora Asset Management Inc. increased its stake in Enphase Energy by 42.5% during the 1st quarter. Panagora Asset Management Inc. now owns 4,030 shares of the semiconductor company’s stock worth $813,000 after buying an additional 1,201 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in Enphase Energy during the 1st quarter worth approximately $249,000. Cibc World Market Inc. increased its stake in Enphase Energy by 219.1% during the 1st quarter. Cibc World Market Inc. now owns 5,320 shares of the semiconductor company’s stock worth $1,073,000 after buying an additional 3,653 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Enphase Energy by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 398,666 shares of the semiconductor company’s stock worth $80,436,000 after buying an additional 6,401 shares in the last quarter. Finally, Blair William & Co. IL grew its position in shares of Enphase Energy by 8.7% in the first quarter. Blair William & Co. IL now owns 2,263 shares of the semiconductor company’s stock valued at $457,000 after purchasing an additional 182 shares in the last quarter. 71.05% of the stock is currently owned by hedge funds and other institutional investors.
Enphase Energy Company Profile
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 services.
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Source: defenseworld.net
