Enphase Energy (NASDAQ:ENPH) PT Lowered to $200.00 at KeyCorp

Enphase Energy (NASDAQ:ENPH) had its price target reduced by KeyCorp from $280.00 to $200.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s target price indicates a potential upside of 40.02% from the stock’s previous close.

ENPH has been the topic of several other research reports. The Goldman Sachs Group lifted their price target on shares of Enphase Energy from $235.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, November 17th. TheStreet cut shares of Enphase Energy from a “b-” rating to a “c+” rating in a report on Thursday, December 30th. Susquehanna Bancshares raised their price objective on Enphase Energy from $210.00 to $290.00 and gave the company a “positive” rating in a research report on Wednesday, November 17th. Oppenheimer raised their price objective on Enphase Energy from $225.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, November 17th. Finally, Evercore ISI raised their price objective on Enphase Energy from $216.00 to $292.00 and gave the company an “outperform” rating in a research report on Wednesday, November 17th. Nine analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $241.06.

Shares of Enphase Energy stock opened at $142.84 on Thursday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.33 and a current ratio of 4.49. Enphase Energy has a 52-week low of $108.88 and a 52-week high of $282.46. The stock has a market capitalization of $19.27 billion, a price-to-earnings ratio of 124.21 and a beta of 1.21. The company’s 50 day moving average price is $209.13 and its 200-day moving average price is $187.88.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, October 26th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.11. The business had revenue of $351.52 million for the quarter, compared to analysts’ expectations of $343.77 million. Enphase Energy had a net margin of 13.44% and a return on equity of 37.82%. The firm’s revenue for the quarter was up 96.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, equities research analysts forecast that Enphase Energy will post 1.45 earnings per share for the current fiscal year.

In other Enphase Energy news, Director Richard Mora sold 19,000 shares of the company’s stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $229.17, for a total value of $4,354,230.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mandy Yang sold 9,453 shares of the company’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $233.50, for a total value of $2,207,275.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,932 shares of company stock valued at $44,170,626. 5.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Guinness Atkinson Asset Management Inc raised its holdings in shares of Enphase Energy by 1.2% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 4,114 shares of the semiconductor company’s stock worth $617,000 after acquiring an additional 48 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Enphase Energy by 1.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,964 shares of the semiconductor company’s stock worth $594,000 after acquiring an additional 53 shares in the last quarter. Independent Advisor Alliance raised its holdings in Enphase Energy by 1.3% during the 2nd quarter. Independent Advisor Alliance now owns 4,772 shares of the semiconductor company’s stock valued at $876,000 after buying an additional 62 shares during the period. Impax Asset Management Group plc raised its holdings in Enphase Energy by 2.5% during the 3rd quarter. Impax Asset Management Group plc now owns 2,701 shares of the semiconductor company’s stock valued at $405,000 after buying an additional 66 shares during the period. Finally, Allworth Financial LP raised its holdings in Enphase Energy by 18.4% during the 3rd quarter. Allworth Financial LP now owns 444 shares of the semiconductor company’s stock valued at $67,000 after buying an additional 69 shares during the period. 68.01% of the stock is currently owned by institutional investors and hedge funds.

About Enphase Energy

Enphase Energy, Inc engages in the design, development, manufacture and sale of micro inverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps. The company was founded by Raghuveer R.

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