Enphase Energy (NASDAQ:ENPH) Price Target Cut to $75.00 by Analysts at Wells Fargo & Company

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by Wells Fargo & Company from $77.00 to $75.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor company’s stock.

A number of other research analysts also recently weighed in on ENPH. OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. The Goldman Sachs Group reduced their price target on Enphase Energy from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Glj Research reissued a “sell” rating and set a $50.69 price objective on shares of Enphase Energy in a report on Tuesday, February 4th. Piper Sandler cut their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Barclays decreased their target price on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.36.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $60.71 on Thursday. Enphase Energy has a one year low of $51.63 and a one year high of $141.63. The business’s 50-day moving average price is $62.28 and its two-hundred day moving average price is $76.16. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.53 and a quick ratio of 3.28. The company has a market capitalization of $8.04 billion, a P/E ratio of 82.04 and a beta of 2.12.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a return on equity of 15.62% and a net margin of 7.72%. Analysts anticipate that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mandy Yang sold 1,319 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $63.32, for a total value of $83,519.08. Following the sale, the chief financial officer now directly owns 78,524 shares of the company’s stock, valued at approximately $4,972,139.68. The trade was a 1.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thurman J. Rodgers sold 100,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the director now directly owns 1,881,760 shares of the company’s stock, valued at approximately $115,276,617.60. The trade was a 5.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Enphase Energy

A number of institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in Enphase Energy in the 3rd quarter valued at approximately $37,000. Venturi Wealth Management LLC grew its stake in shares of Enphase Energy by 318.1% during the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 509 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Enphase Energy during the 4th quarter worth approximately $47,000. Brooklyn Investment Group acquired a new stake in shares of Enphase Energy in the third quarter valued at approximately $55,000. Finally, GeoWealth Management LLC lifted its position in shares of Enphase Energy by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 321 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Company Profile

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.