Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $40.00 at Susquehanna

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its target price decreased by analysts at Susquehanna from $51.00 to $40.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the semiconductor company's stock. Susquehanna's price objective would suggest a potential upside of 9.65% from the company's current price.

A number of other research firms also recently weighed in on ENPH. BNP Paribas downgraded Enphase Energy from an "outperform" rating to an "underperform" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada set a $28.00 price objective on shares of Enphase Energy and gave the company a "sector perform" rating in a report on Wednesday, June 18th. Guggenheim reiterated a "sell" rating and issued a $33.00 target price on shares of Enphase Energy in a report on Wednesday, April 23rd. TD Cowen reissued a "hold" rating and set a $45.00 price target (down from $58.00) on shares of Enphase Energy in a research note on Tuesday, July 8th. Finally, Citigroup reduced their target price on shares of Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a research report on Thursday, June 5th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Enphase Energy has an average rating of "Hold" and an average target price of $58.99.

Enphase Energy Stock Down 14.2%

Shares of NASDAQ ENPH traded down $6.02 during mid-day trading on Monday, reaching $36.48. 28,505,389 shares of the company were exchanged, compared to its average volume of 5,229,828. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 33.78 and a beta of 1.67. Enphase Energy has a 1 year low of $33.01 and a 1 year high of $130.08. The firm has a 50-day moving average of $41.77 and a 200 day moving average of $52.82.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The business 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 21.43% and a net margin of 10.43%. The company's revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.43 earnings per share. On average, research analysts expect that Enphase Energy will post 2.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business's stock in a transaction dated 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 purchase, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Woodline Partners LP bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $557,000. Teacher Retirement System of Texas bought a new stake in shares of Enphase Energy in the 1st quarter worth approximately $1,609,000. QRG Capital Management Inc. bought a new stake in shares of Enphase Energy in the 1st quarter worth approximately $512,000. Bouvel Investment Partners LLC bought a new stake in shares of Enphase Energy in the 1st quarter worth approximately $847,000. Finally, Norges Bank acquired a new position in shares of Enphase Energy in the 4th quarter worth approximately $46,339,000. 72.12% of the stock is currently owned by 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.