Enphase Energy (NASDAQ:ENPH) Given New $42.00 Price Target at Wells Fargo & Company

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by Wells Fargo & Company from $65.00 to $42.00 in a report released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor company’s stock.

Several other analysts also recently issued reports on ENPH. Barclays downgraded shares of Enphase Energy from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $51.00 to $40.00 in a report on Tuesday, May 13th. Mizuho set a $53.00 target price on shares of Enphase Energy and gave the stock an “outperform” rating in a research report on Monday, June 2nd. Glj Research lowered their price target on Enphase Energy from $50.69 to $31.11 and set a “sell” rating on the stock in a research report on Friday, April 25th. BMO Capital Markets reiterated an “underperform” rating and issued a $39.00 price objective (down from $46.00) on shares of Enphase Energy in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada set a $28.00 price objective on Enphase Energy and gave the stock a “sector perform” rating in a research report on Wednesday. Twelve investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.44.

Enphase Energy Stock Down 1.5%

Shares of Enphase Energy stock opened at $35.85 on Friday. Enphase Energy has a 12-month low of $33.01 and a 12-month high of $130.08. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average price of $45.12 and a two-hundred day moving average price of $57.69. The stock has a market capitalization of $4.70 billion, a P/E ratio of 33.19 and a beta of 1.69.

Insider Buying and Selling

In other news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $46.35 per share, with a total value of $185,400.00. Following the acquisition, the chief executive officer now owns 1,598,696 shares in the company, valued at $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CX Institutional acquired a new stake in shares of Enphase Energy during the first quarter worth approximately $29,000. First Horizon Advisors Inc. increased its holdings in Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 258 shares in the last quarter. SVB Wealth LLC acquired a new stake in Enphase Energy during the 1st quarter valued at $38,000. Brooklyn Investment Group raised its position in Enphase Energy by 124.7% in the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 368 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Enphase Energy by 318.1% in the 4th quarter. Venturi Wealth Management LLC now owns 669 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 509 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.