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

Enphase Energy (NASDAQ:ENPH) had its price objective trimmed by Wells Fargo & Company from $83.00 to $77.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on ENPH. OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a report on Friday, December 20th. BNP Paribas cut Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a report on Friday, November 8th. Hsbc Global Res downgraded Enphase Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 8th. Barclays dropped their price target on Enphase Energy from $91.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada decreased their price objective on shares of Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Friday, November 22nd. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average price target of $90.42.

Enphase Energy Stock Up 1.9 %

Shares of Enphase Energy stock opened at $66.51 on Thursday. The company has a market cap of $8.99 billion, a P/E ratio of 151.16, a PEG ratio of 8.22 and a beta of 1.68. The firm has a fifty day moving average of $68.77 and a two-hundred day moving average of $88.79. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. Enphase Energy has a one year low of $58.33 and a one year high of $141.63.

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

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Enphase Energy during the third quarter worth $1,273,000. Charles Schwab Investment Management Inc. raised its stake in shares of Enphase Energy by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock worth $99,496,000 after purchasing an additional 16,234 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Enphase Energy during the 3rd quarter valued at about $37,475,000. Mizuho Securities USA LLC grew its stake in shares of Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after buying an additional 438,424 shares in the last quarter. Finally, Impax Asset Management Group plc increased its holdings in Enphase Energy by 15.9% in the third quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock worth $25,555,000 after buying an additional 31,008 shares during the last quarter. Institutional investors and hedge funds 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.