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

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

Several other equities research analysts have also recently issued reports on ENPH. Jefferies Financial Group cut Enphase Energy from a buy rating to a hold rating and reduced their target price for the stock from $135.00 to $111.00 in a report on Wednesday. Susquehanna reissued a positive rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Friday, April 5th. Oppenheimer boosted their price objective on Enphase Energy from $133.00 to $134.00 and gave the stock an outperform rating in a research note on Wednesday. Royal Bank of Canada started coverage on Enphase Energy in a research note on Wednesday, February 14th. They set an outperform rating and a $140.00 price objective on the stock. Finally, Canaccord Genuity Group reduced their price objective on Enphase Energy from $132.00 to $130.00 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, thirteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $137.41.

Enphase Energy Price Performance

NASDAQ ENPH opened at $111.93 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16. The business’s fifty day moving average is $118.22 and its 200 day moving average is $111.90. The company has a market capitalization of $15.23 billion, a PE ratio of 58.30, a price-to-earnings-growth ratio of 3.17 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 posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to analysts’ expectations of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. Sell-side analysts predict that Enphase Energy will post 1.96 earnings per share for the current year.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction 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 directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares in the company, valued at $12,391,108.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,285 shares of company stock valued at $6,148,228. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. boosted its stake in shares of Enphase Energy by 25.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 2,510 shares of the semiconductor company’s stock worth $304,000 after acquiring an additional 515 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in Enphase Energy in the 1st quarter valued at about $35,000. Clear Creek Financial Management LLC purchased a new position in Enphase Energy in the 1st quarter valued at about $225,000. Lindbrook Capital LLC lifted its stake in Enphase Energy by 50.9% in the 1st quarter. Lindbrook Capital LLC now owns 427 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 144 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Enphase Energy by 14.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,570 shares of the semiconductor company’s stock valued at $3,577,000 after buying an additional 3,700 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other 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.