Enphase Energy (NASDAQ:ENPH) Price Target Cut to $40.00 by Analysts at TD Cowen

Enphase Energy (NASDAQ:ENPH - Free Report) had its price target decreased by TD Cowen from $45.00 to $40.00 in a report published on Wednesday, Marketbeat reports. TD Cowen currently has a hold rating on the semiconductor company's stock.

Other research analysts have also recently issued research reports about the stock. BNP Paribas cut shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, May 13th. Mizuho reduced their price target on shares of Enphase Energy from $53.00 to $50.00 and set an "outperform" rating on the stock in a report on Monday, July 14th. BNP Paribas Exane downgraded shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 target price on the stock. in a report on Tuesday, May 13th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $37.00 target price (down from $64.00) on shares of Enphase Energy in a report on Tuesday, July 15th. Finally, Barclays cut their price target on shares of Enphase Energy from $40.00 to $28.00 and set an "underweight" rating on the stock in a report on Monday, July 14th. Thirteen research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $55.86.

Enphase Energy Stock Performance

NASDAQ:ENPH traded down $0.10 during trading hours on Wednesday, reaching $35.41. The company had a trading volume of 9,309,058 shares, compared to its average volume of 9,247,196. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. Enphase Energy has a 52 week low of $33.01 and a 52 week high of $130.08. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 27.66 and a beta of 1.67. The firm's 50 day moving average price is $40.95 and its 200-day moving average price is $52.20.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $363.15 million for the quarter, compared to analysts' expectations of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The company's revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. On average, analysts forecast that Enphase Energy will post 2.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENPH. CX Institutional acquired a new stake in shares of Enphase Energy in the first quarter worth $29,000. First Horizon Advisors Inc. boosted its holdings in Enphase Energy by 83.0% during the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock worth $35,000 after buying an additional 258 shares in the last quarter. SVB Wealth LLC purchased a new position in Enphase Energy during the first quarter valued at $38,000. Brooklyn Investment Group lifted its holdings in Enphase Energy by 124.7% during the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 368 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Enphase Energy during the fourth quarter valued at $47,000. 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.