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

Enphase Energy (NASDAQ:ENPH) had its price target dropped by Wells Fargo & Company from $141.00 to $130.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 20.56% from the company’s previous close.

Several other research firms have also issued reports on ENPH. Susquehanna reissued a “positive” rating and set a $140.00 price target on shares of Enphase Energy in a research report on Friday, April 5th. Morgan Stanley increased their target price on shares of Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Truist Financial decreased their price target on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Enphase Energy from $141.00 to $128.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, TD Cowen lifted their target price on Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $141.00.

Enphase Energy Price Performance

ENPH opened at $107.83 on Wednesday. The company has a market capitalization of $14.66 billion, a P/E ratio of 56.16, a PEG ratio of 3.24 and a beta of 1.47. The company 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. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating 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 firm had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Equities analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The stock was acquired at an average cost of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now directly owns 1,655,171 shares in the company, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock valued at $4,054,428 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legato Capital Management LLC purchased a new stake in Enphase Energy during the fourth quarter valued at about $1,542,000. Assenagon Asset Management S.A. grew its position in Enphase Energy by 348.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 223,436 shares of the semiconductor company’s stock worth $29,525,000 after purchasing an additional 173,628 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in Enphase Energy during the fourth quarter valued at $566,000. Glenmede Trust Co. NA increased its position in Enphase Energy by 92.7% during the third quarter. Glenmede Trust Co. NA now owns 3,162 shares of the semiconductor company’s stock worth $380,000 after buying an additional 1,521 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Enphase Energy by 8.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 141,596 shares of the semiconductor company’s stock valued at $17,013,000 after acquiring an additional 10,729 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.