Morgan Stanley Trims Enphase Energy (NASDAQ:ENPH) Target Price to $93.00

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by Morgan Stanley from $102.00 to $93.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

A number of other analysts have also weighed in on the stock. Truist Financial reduced their price target on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Roth Mkm restated a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, July 24th. Jefferies Financial Group restated a “hold” rating and set a $115.00 price target (up from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, TD Cowen dropped their price objective on Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $111.26.

Enphase Energy Stock Performance

Enphase Energy stock opened at $83.83 on Wednesday. The stock’s 50 day moving average price is $108.44 and its 200 day moving average price is $111.79. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a market capitalization of $11.41 billion, a PE ratio of 43.66, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. Enphase Energy has a one year low of $73.49 and a one year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. As a group, sell-side analysts expect that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of ENPH. Manchester Capital Management LLC grew its stake in shares of Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 203 shares in the last quarter. Chilton Capital Management LLC boosted its holdings in shares of Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after buying an additional 246 shares during the period. UMB Bank n.a. grew its stake in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 259 shares during the last quarter. nVerses Capital LLC bought a new position in Enphase Energy in the 3rd quarter valued at about $34,000. Finally, Quest Partners LLC lifted its position in Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 461 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.