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

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by Wells Fargo & Company from $141.00 to $130.00 in a research report sent to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor company’s stock.

A number of other analysts also recently issued reports on ENPH. Oppenheimer lifted their price target on Enphase Energy from $133.00 to $134.00 and gave the company an outperform rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $141.00 to $128.00 and set an overweight rating for the company in a research report on Wednesday. Piper Sandler dropped their price target on Enphase Energy from $120.00 to $117.00 and set a neutral rating for the company in a research report on Friday, January 12th. Susquehanna reiterated a positive rating and set a $140.00 price target on shares of Enphase Energy in a research report on Friday, April 5th. Finally, Roth Mkm reiterated a buy rating and set a $140.00 price target on shares of Enphase Energy in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $141.00.

Enphase Energy Stock Down 5.6 %

Shares of NASDAQ ENPH opened at $107.17 on Wednesday. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $228.36. The business has a 50-day simple moving average of $119.28 and a two-hundred day simple moving average of $111.97. The company has a quick ratio of 4.19, a current ratio of 4.59 and a debt-to-equity ratio of 1.32. The company has a market cap of $14.57 billion, a P/E ratio of 55.82, a P/E/G ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results 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 return on equity of 31.34% and a net margin of 15.10%. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Research analysts anticipate that Enphase Energy will post 2.01 earnings per share for the current fiscal year.

Insider Activity

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 transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 34,285 shares of company stock valued at $4,054,428. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Donoghue Forlines LLC grew its stake in Enphase Energy by 4.8% in the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 90 shares during the period. Fermata Advisors LLC grew its stake in shares of Enphase Energy by 1.4% in the first quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after acquiring an additional 100 shares during the last quarter. Fulton Breakefield Broenniman LLC grew its stake in shares of Enphase Energy by 0.9% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock worth $1,505,000 after acquiring an additional 107 shares during the last quarter. VitalStone Financial LLC grew its stake in shares of Enphase Energy by 14.3% in the fourth quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 111 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in shares of Enphase Energy by 5.5% in the third quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after acquiring an additional 131 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.