Oppenheimer Issues Positive Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target raised by investment analysts at Oppenheimer from $101.00 to $103.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price would suggest a potential upside of 53.26% from the stock’s current price.

Several other equities research analysts have also recently issued reports on ENPH. Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a report on Wednesday, October 23rd. Canaccord Genuity Group cut Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Glj Research reiterated a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a report on Tuesday. Barclays lowered their target price on shares of Enphase Energy from $114.00 to $91.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Craig Hallum cut their price target on shares of Enphase Energy from $123.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $91.26.

Enphase Energy Price Performance

Shares of ENPH traded up $0.96 during mid-day trading on Wednesday, reaching $67.21. 4,166,224 shares of the company’s stock were exchanged, compared to its average volume of 3,683,722. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 153.63, a PEG ratio of 8.22 and a beta of 1.68. The company has a 50-day simple moving average of $69.02 and a two-hundred day simple moving average of $89.11.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. On average, sell-side analysts predict that Enphase Energy will post 0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in Enphase Energy by 32.0% in the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after buying an additional 2,028,691 shares during the last quarter. Swedbank AB raised its holdings in shares of Enphase Energy by 0.3% during the 3rd quarter. Swedbank AB now owns 3,463,475 shares of the semiconductor company’s stock valued at $391,442,000 after purchasing an additional 11,890 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Enphase Energy by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after purchasing an additional 20,579 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Enphase Energy by 6.5% in 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 worth $265,609,000 after purchasing an additional 142,491 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Enphase Energy by 131.6% during the fourth quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock worth $155,360,000 after buying an additional 1,258,778 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other 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.