Deutsche Bank Aktiengesellschaft Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $42.00

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its target price reduced by research analysts at Deutsche Bank Aktiengesellschaft from $49.00 to $42.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "hold" rating on the semiconductor company's stock. Deutsche Bank Aktiengesellschaft's price target points to a potential upside of 17.15% from the stock's current price.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group reissued a "sell" rating and issued a $32.00 price target (down previously from $77.00) on shares of Enphase Energy in a report on Wednesday, July 9th. Citigroup cut their price target on shares of Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a report on Thursday, June 5th. Bank of America lowered their target price on shares of Enphase Energy from $31.00 to $30.00 and set an "underperform" rating for the company in a research note on Wednesday. Jefferies Financial Group decreased their target price on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Barclays boosted their price target on shares of Enphase Energy from $28.00 to $29.00 and gave the stock an "underweight" rating in a report on Thursday. Thirteen investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $58.57.

Enphase Energy Price Performance

Shares of ENPH traded down $0.63 during midday trading on Thursday, reaching $35.85. The stock had a trading volume of 4,628,422 shares, compared to its average volume of 6,364,283. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.77. The company has a market capitalization of $4.70 billion, a P/E ratio of 28.03 and a beta of 1.67. The firm's 50 day moving average price is $41.54 and its 200-day moving average price is $52.71. Enphase Energy has a 52 week low of $33.01 and a 52 week high of $130.08.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $363.15 million for the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a return on equity of 24.70% and a net margin of 11.78%. The business's revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. On average, analysts forecast that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insider Activity

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction on Friday, April 25th. The stock was acquired at an average price of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,598,696 shares of the company's stock, valued at $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. CX Institutional bought a new stake in shares of Enphase Energy in the 1st quarter valued at about $29,000. First Horizon Advisors Inc. lifted its position in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after buying an additional 258 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Enphase Energy during the first quarter worth about $38,000. Brooklyn Investment Group increased its stake in shares of Enphase Energy by 124.7% during the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock worth $41,000 after buying an additional 368 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Enphase Energy in the fourth quarter valued at approximately $47,000. Hedge funds and other 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.

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