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

Enphase Energy (NASDAQ:ENPH) had its price target lowered by equities researchers at Wells Fargo & Company from $141.00 to $130.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 20.90% from the company’s previous close.

ENPH has been the topic of several other reports. Truist Financial decreased their price target on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday. Susquehanna restated a “positive” rating and issued a $140.00 price target on shares of Enphase Energy in a research report on Friday, April 5th. TD Cowen raised their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from $135.00 to $111.00 in a research report on Wednesday. Finally, KeyCorp reiterated a “sector weight” rating on shares of Enphase Energy in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $140.27.

Enphase Energy Stock Performance

ENPH traded down $5.95 during trading on Wednesday, hitting $107.53. The stock had a trading volume of 7,731,711 shares, compared to its average volume of 4,130,749. The firm has a market cap of $14.62 billion, a PE ratio of 35.50, a P/E/G ratio of 3.16 and a beta of 1.47. Enphase Energy has a 12 month low of $73.49 and a 12 month 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 company has a 50 day simple moving average of $119.28 and a 200-day simple moving average of $111.97.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. Analysts expect that Enphase Energy will post 2.01 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP David A. Ranhoff sold 5,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders sold a total of 34,285 shares of company stock valued at $4,054,428 over the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ENPH. Bogart Wealth LLC bought a new position in Enphase Energy in the fourth quarter valued at $26,000. CVA Family Office LLC bought a new position in Enphase Energy in the fourth quarter valued at $31,000. Parkside Financial Bank & Trust grew its position 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 purchasing an additional 176 shares in the last quarter. Covestor Ltd grew its position 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 purchasing an additional 133 shares in the last quarter. Finally, Addison Advisors LLC grew its position 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 purchasing an additional 304 shares in the last quarter. 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.