Enphase Energy (NASDAQ:ENPH) Price Target Cut to $77.00 by Analysts at Oppenheimer

Enphase Energy (NASDAQ:ENPH - Free Report) had its price objective decreased by Oppenheimer from $86.00 to $77.00 in a research note published on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company's stock.

A number of other equities research analysts have also recently issued reports on ENPH. KeyCorp reissued an "underweight" rating and issued a $31.00 price target on shares of Enphase Energy in a research note on Tuesday, June 17th. Wells Fargo & Company dropped their target price on shares of Enphase Energy from $65.00 to $42.00 and set an "overweight" rating on the stock in a research report on Friday, June 20th. Guggenheim reiterated a "sell" rating and issued a $33.00 target price on shares of Enphase Energy in a research report on Wednesday, April 23rd. DZ Bank cut Enphase Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 23rd. Finally, Susquehanna decreased their price objective on Enphase Energy from $51.00 to $40.00 and set a "neutral" rating on the stock in a report on Monday. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Enphase Energy currently has a consensus rating of "Hold" and a consensus price target of $55.86.

Enphase Energy Stock Performance

ENPH stock traded down $0.36 during midday trading on Wednesday, hitting $35.16. 3,194,902 shares of the stock traded hands, compared to its average volume of 6,385,490. The firm has a market cap of $4.60 billion, a P/E ratio of 27.47 and a beta of 1.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.77. The stock's fifty day simple moving average is $41.25 and its 200-day simple moving average is $52.46. Enphase Energy has a 1-year low of $33.01 and a 1-year 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 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The firm had revenue of $363.15 million for the quarter, compared to analysts' expectations of $359.14 million. During the same period last year, the firm earned $0.43 EPS. The company's quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts expect that Enphase Energy will post 2.08 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Enphase Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock worth $1,135,707,000 after acquiring an additional 44,782 shares during the period. Baillie Gifford & Co. grew its holdings in Enphase Energy by 32.0% in the first quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company's stock valued at $685,799,000 after purchasing an additional 2,680,567 shares during the last quarter. Invesco Ltd. grew its holdings in Enphase Energy by 15.5% in the first quarter. Invesco Ltd. now owns 5,264,521 shares of the semiconductor company's stock valued at $326,664,000 after purchasing an additional 706,656 shares during the last quarter. Geode Capital Management LLC grew its holdings in Enphase Energy by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after purchasing an additional 47,593 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Enphase Energy by 40.9% in the 4th quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock valued at $114,614,000 after acquiring an additional 484,497 shares during 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.