Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $74.00 at Morgan Stanley

Enphase Energy (NASDAQ:ENPH) had its target price decreased by equities research analysts at Morgan Stanley from $93.00 to $74.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Morgan Stanley’s price objective suggests a potential upside of 16.43% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Hsbc Global Res cut Enphase Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 8th. William Blair started coverage on Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating for the company. StockNews.com raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Susquehanna lowered their target price on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Bank of America cut their price target on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $102.76.

Enphase Energy Stock Performance

Enphase Energy stock opened at $63.56 on Friday. The firm has a 50 day simple moving average of $96.25 and a 200-day simple moving average of $108.14. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 144.45, a price-to-earnings-growth ratio of 6.80 and a beta of 1.77. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a 1-year low of $59.12 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the business posted $0.84 EPS. The firm’s revenue for the quarter was down 30.9% on a year-over-year basis. On average, analysts expect that Enphase Energy will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. increased its position in shares of Enphase Energy by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 93 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Enphase Energy by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after buying an additional 100 shares during the period. Green Alpha Advisors LLC boosted its holdings in Enphase Energy by 1.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 102 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Enphase Energy by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock valued at $557,000 after buying an additional 106 shares during the period. Finally, Centaurus Financial Inc. raised its holdings in shares of Enphase Energy by 10.2% in the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock valued at $128,000 after acquiring an additional 118 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.