Wells Fargo & Company Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $130.00

Enphase Energy (NASDAQ:ENPH) had its price target decreased by equities researchers at Wells Fargo & Company from $141.00 to $130.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 20.56% from the stock’s current price.

Several other equities research analysts also recently issued reports on ENPH. Barclays boosted their price objective on Enphase Energy from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Roth Mkm reissued a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday. Piper Sandler cut their target price on shares of Enphase Energy from $120.00 to $117.00 and set a “neutral” rating on the stock in a research note on Friday, January 12th. Jefferies Financial Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from $135.00 to $111.00 in a research report on Wednesday. Finally, StockNews.com lowered Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $141.00.

Enphase Energy Trading Up 0.6 %

Shares of Enphase Energy stock opened at $107.83 on Wednesday. The stock has a 50 day moving average of $118.79 and a 200 day moving average of $111.93. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 56.16, a PEG ratio of 3.24 and a beta of 1.47. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $192.22.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%. The firm had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. As a group, research analysts predict that Enphase Energy will post 2.01 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock valued at $4,054,428 in the last ninety days. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

A number of large investors have recently modified their holdings of ENPH. Baillie Gifford & Co. boosted its stake in shares of Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after buying an additional 4,078,723 shares in the last quarter. Norges Bank acquired a new stake in Enphase Energy in the fourth quarter valued at $149,425,000. Nordea Investment Management AB boosted its position in shares of Enphase Energy by 158.8% during the 4th quarter. Nordea Investment Management AB now owns 817,164 shares of the semiconductor company’s stock worth $109,083,000 after purchasing an additional 501,385 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Enphase Energy during the 4th quarter worth $41,068,000. Finally, Panagora Asset Management Inc. grew its stake in shares of Enphase Energy by 3,396.9% during the 4th quarter. Panagora Asset Management Inc. now owns 262,687 shares of the semiconductor company’s stock worth $34,711,000 after purchasing an additional 255,175 shares during the period. 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.