Wells Fargo & Company Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $75.00

Enphase Energy (NASDAQ:ENPH) had its price objective trimmed by Wells Fargo & Company from $77.00 to $75.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on ENPH. BMO Capital Markets dropped their target price on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. OTR Global upgraded Enphase Energy from a “negative” rating to a “mixed” rating in a research note on Friday, December 20th. Piper Sandler cut their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Morgan Stanley decreased their target price on Enphase Energy from $68.00 to $67.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Susquehanna cut their price target on Enphase Energy from $79.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $90.36.

Enphase Energy Stock Up 0.9 %

NASDAQ:ENPH opened at $60.71 on Thursday. Enphase Energy has a twelve month low of $51.63 and a twelve month high of $141.63. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 82.04 and a beta of 2.12. The company has a quick ratio of 3.28, a current ratio of 3.53 and a debt-to-equity ratio of 1.44. The stock’s 50 day moving average price is $62.28 and its two-hundred day moving average price is $76.16.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.14. Enphase Energy had a net margin of 7.72% and a return on equity of 15.62%. Equities research analysts expect that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Enphase Energy news, Director Thurman J. Rodgers sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the sale, the director now owns 1,881,760 shares in the company, valued at $115,276,617.60. This trade represents a 5.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mandy Yang sold 1,319 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $63.32, for a total transaction of $83,519.08. Following the transaction, the chief financial officer now owns 78,524 shares of the company’s stock, valued at $4,972,139.68. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Enphase Energy during the third quarter valued at about $37,000. Venturi Wealth Management LLC raised its holdings 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 buying an additional 509 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Enphase Energy during the 4th quarter worth approximately $47,000. Brooklyn Investment Group bought a new stake in Enphase Energy during the 3rd quarter worth approximately $55,000. Finally, GeoWealth Management LLC increased its position in Enphase Energy by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 891 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 321 shares during the period. 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.