Enphase Energy (NASDAQ:ENPH) Given New $130.00 Price Target at Wells Fargo & Company

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

ENPH has been the topic of several other research reports. BMO Capital Markets reduced their target price on shares of Enphase Energy from $118.00 to $113.00 and set a market perform rating on the stock in a report on Wednesday. Roth Mkm restated a buy rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday. Susquehanna reiterated a positive rating and issued a $140.00 target price on shares of Enphase Energy in a research note on Friday, April 5th. Mizuho dropped their target price on Enphase Energy from $150.00 to $148.00 and set a buy rating on the stock in a report on Friday, April 19th. Finally, Canaccord Genuity Group decreased their price target on Enphase Energy from $132.00 to $130.00 and set a buy rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $137.41.

Enphase Energy Stock Performance

Enphase Energy stock opened at $111.93 on Wednesday. The stock has a fifty day moving average price of $117.82 and a 200 day moving average price of $111.85. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $192.22. The firm has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a PEG ratio of 3.17 and a beta of 1.47.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%. The company had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. Equities research analysts anticipate that Enphase Energy will post 1.96 earnings per share for the current year.

Insider Buying and Selling at Enphase Energy

In other news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares of the company’s stock, valued at approximately $12,391,108.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the sale, the director now owns 118,360 shares in the company, valued at $12,391,108.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold a total of 54,285 shares of company stock worth $6,148,228 over the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently added to or reduced their stakes in ENPH. Bogart Wealth LLC bought a new position in shares of Enphase Energy during the fourth quarter worth about $26,000. CVA Family Office LLC bought a new position in Enphase Energy in the 4th quarter worth about $31,000. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy in the first quarter valued at approximately $35,000. Parkside Financial Bank & Trust raised its holdings in shares of Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 176 shares during the last quarter. Finally, Addison Advisors LLC boosted its position in shares of Enphase Energy by 1,447.6% during the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after buying an additional 304 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

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.