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

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

Several other research firms have also issued reports on ENPH. JPMorgan Chase & Co. decreased their target price on Enphase Energy from $141.00 to $128.00 and set an overweight rating for the company in a research report on Wednesday. Barclays increased their target price on Enphase Energy from $106.00 to $115.00 and gave the stock an equal weight rating in a research note on Thursday, February 8th. TD Cowen lifted their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research note on Wednesday. Citigroup downgraded shares of Enphase Energy from a buy rating to a neutral rating and lowered their price objective for the stock from $126.00 to $121.00 in a research report on Friday, April 5th. Finally, Truist Financial dropped their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $137.41.

Enphase Energy Stock Performance

NASDAQ ENPH opened at $111.93 on Wednesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22. The company has a 50 day moving average of $117.82 and a 200-day moving average of $111.85. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.17 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate 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 net margin of 15.10% and a return on equity of 31.89%. On average, equities analysts forecast that Enphase Energy will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the sale, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,285 shares of company stock worth $6,148,228. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in Enphase Energy by 6.3% during the third quarter. CWM LLC now owns 4,040 shares of the semiconductor company’s stock worth $485,000 after acquiring an additional 239 shares during the period. AE Wealth Management LLC increased its holdings in shares of Enphase Energy by 24.3% during the third quarter. AE Wealth Management LLC now owns 14,940 shares of the semiconductor company’s stock worth $1,795,000 after purchasing an additional 2,921 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Enphase Energy by 108.3% in the third quarter. Newbridge Financial Services Group Inc. now owns 625 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 325 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Enphase Energy by 155.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,349 shares of the semiconductor company’s stock valued at $162,000 after buying an additional 820 shares during the period. Finally, Oak Thistle LLC acquired a new stake in Enphase Energy during the third quarter worth approximately $259,000. Institutional investors 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.