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

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

Other equities analysts have also recently issued reports about the stock. TD Cowen raised their target price on shares of Enphase Energy from $140.00 to $145.00 and gave the company a buy rating in a research note on Wednesday. Truist Financial reduced their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a buy rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Enphase Energy from $141.00 to $128.00 and set an overweight rating for the company in a research report on Wednesday. Susquehanna reaffirmed a positive rating and set a $140.00 price objective on shares of Enphase Energy in a research report on Friday, April 5th. Finally, BMO Capital Markets reduced their price objective on shares of Enphase Energy from $118.00 to $113.00 and set a market perform rating for the company in a research report on Wednesday. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $141.00.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $107.17 on Wednesday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $228.36. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. The firm has a fifty day simple moving average of $119.28 and a 200 day simple moving average of $111.97. The stock has a market capitalization of $14.57 billion, a PE ratio of 55.82, a P/E/G ratio of 3.24 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last released its earnings results 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 net margin of 15.10% and a return on equity of 31.34%. The business had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. On average, research analysts expect that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 34,285 shares of company stock worth $4,054,428. Insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC bought a new stake in Enphase Energy in the fourth quarter valued at approximately $26,000. CVA Family Office LLC bought a new stake in Enphase Energy in the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust boosted its holdings in Enphase Energy by 131.3% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares during the last quarter. Covestor Ltd boosted its holdings in Enphase Energy by 61.6% in the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares during the last quarter. Finally, Addison Advisors LLC boosted its holdings in Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 304 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.