Wells Fargo & Company Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $83.00

Enphase Energy (NASDAQ:ENPHGet Free Report) had its price objective lowered by stock analysts at Wells Fargo & Company from $101.00 to $83.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 18.13% from the stock’s previous close.

ENPH has been the subject of a number of other reports. BMO Capital Markets lowered their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. TD Cowen decreased their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a report on Wednesday, October 23rd. Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group cut their target price on Enphase Energy from $145.00 to $121.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $97.86.

Get Our Latest Stock Report on ENPH

Enphase Energy Price Performance

NASDAQ:ENPH traded down $3.25 during trading hours on Wednesday, reaching $70.26. 787,117 shares of the company were exchanged, compared to its average volume of 2,582,260. The business has a 50 day moving average of $71.39 and a 200 day moving average of $94.86. The company has a market capitalization of $9.49 billion, a P/E ratio of 159.68, a P/E/G ratio of 22.03 and a beta of 1.68. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPHGet Free Report) last released its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 earnings per share. Research analysts forecast that Enphase Energy will post 0.94 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

A number of institutional investors have recently made changes to their positions in the stock. Avior Wealth Management LLC raised its stake in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 279 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 259 shares during the last quarter. nVerses Capital LLC purchased a new position in Enphase Energy during the 3rd quarter valued at about $34,000. Stone House Investment Management LLC bought a new position in Enphase Energy during the 3rd quarter valued at approximately $34,000. Finally, Quarry LP purchased a new stake in Enphase Energy in the 3rd quarter worth approximately $37,000. Institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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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.

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