Enphase Energy (NASDAQ:ENPH) Price Target Cut to $77.00 by Analysts at Wells Fargo & Company

Enphase Energy (NASDAQ:ENPH) had its target price lowered by stock analysts at Wells Fargo & Company from $83.00 to $77.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 15.50% from the company’s current price.

ENPH has been the topic of several other research reports. TD Cowen reduced their price target on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. BNP Paribas downgraded shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Friday, November 8th. Evercore ISI reduced their target price on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Citigroup increased their price objective on Enphase Energy from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Finally, Craig Hallum decreased their target price on Enphase Energy from $123.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and an average target price of $90.42.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH traded up $1.40 during midday trading on Thursday, hitting $66.67. The company had a trading volume of 1,570,910 shares, compared to its average volume of 3,773,559. The business’s 50-day simple moving average is $68.88 and its 200-day simple moving average is $88.95. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 151.44, a price-to-earnings-growth ratio of 8.22 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 twelve month low of $58.33 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.15). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. On average, research analysts predict that Enphase Energy will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its position in Enphase Energy by 81.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,560 shares of the semiconductor company’s stock worth $1,069,000 after buying an additional 6,992 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $429,000. Metis Global Partners LLC boosted its stake in Enphase Energy by 41.1% during the fourth quarter. Metis Global Partners LLC now owns 24,938 shares of the semiconductor company’s stock worth $1,713,000 after buying an additional 7,263 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its stake in shares of Enphase Energy by 72.7% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 19,000 shares of the semiconductor company’s stock valued at $1,305,000 after buying an additional 8,000 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Enphase Energy during the 4th quarter valued at about $242,000. 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.