Brokerages Set Enphase Energy, Inc. (NASDAQ:ENPH) Target Price at $90.42

Shares of Enphase Energy, Inc. (NASDAQ:ENPH - Get Free Report) have been given a consensus rating of "Hold" by the thirty-two brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $90.42.

A number of brokerages have issued reports on ENPH. Canaccord Genuity Group raised shares of Enphase Energy from a "hold" rating to a "buy" rating and boosted their target price for the company from $76.00 to $82.00 in a report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on Enphase Energy from $83.00 to $77.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. TD Cowen decreased their price target on Enphase Energy from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, January 27th. Guggenheim upgraded shares of Enphase Energy from a "sell" rating to a "neutral" rating and set a $62.00 price objective for the company in a research report on Friday, January 31st. Finally, Janney Montgomery Scott cut shares of Enphase Energy from a "buy" rating to a "neutral" rating and set a $83.00 target price on the stock. in a research note on Wednesday, October 23rd.

Enphase Energy Stock Performance

NASDAQ ENPH traded down $0.47 during trading hours on Friday, reaching $62.58. 3,720,415 shares of the company were exchanged, compared to its average volume of 3,915,174. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The business's 50 day simple moving average is $68.15 and its 200-day simple moving average is $87.41. The stock has a market capitalization of $8.46 billion, a P/E ratio of 84.57, a P/E/G ratio of 8.78 and a beta of 1.68. The company has a quick ratio of 3.88, a current ratio of 3.53 and a debt-to-equity ratio of 1.44.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. On average, equities research analysts expect that Enphase Energy will post 2.12 earnings per share for the current year.

Institutional Trading of Enphase Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Enphase Energy by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after purchasing an additional 44,782 shares during the period. Baillie Gifford & Co. raised its position in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company's stock valued at $574,975,000 after buying an additional 2,028,691 shares during the last quarter. Swedbank AB lifted its holdings in shares of Enphase Energy by 0.3% in the third quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company's stock worth $391,442,000 after buying an additional 11,890 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Enphase Energy by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company's stock worth $381,030,000 after buying an additional 20,579 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Enphase Energy by 6.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company's stock valued at $265,609,000 after acquiring an additional 142,491 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.