Enphase Energy (NASDAQ:ENPH) Price Target Cut to $130.00 by Analysts at Wells Fargo & Company

Enphase Energy (NASDAQ:ENPH) had its target price cut by Wells Fargo & Company from $141.00 to $130.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley upped their price objective on shares of Enphase Energy from $97.00 to $106.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. Susquehanna reissued a positive rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Friday, April 5th. Roth Mkm reissued a buy rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday. B. Riley upped their price objective on shares of Enphase Energy from $121.00 to $149.00 and gave the company a buy rating in a research note on Monday, April 22nd. Finally, BMO Capital Markets reduced their price objective on shares of Enphase Energy from $118.00 to $113.00 and set a market perform rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $137.41.

Enphase Energy Stock Up 3.8 %

ENPH stock opened at $111.93 on Wednesday. The company has a market cap of $15.23 billion, a P/E ratio of 58.30, a P/E/G ratio of 3.17 and a beta of 1.47. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $192.22. The company’s 50-day moving average price is $118.22 and its 200 day moving average price is $111.90. 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 (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, research analysts expect that Enphase Energy will post 1.96 earnings per share for the current fiscal year.

Insider Transactions at Enphase Energy

In other news, Director Steven J. Gomo sold 20,000 shares of the firm’s 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 transaction, the director now directly owns 118,360 shares in the company, valued at approximately $12,391,108.40. The transaction was disclosed in a legal filing with the SEC, 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 value of $2,093,800.00. Following the sale, the director now owns 118,360 shares of the company’s stock, valued at approximately $12,391,108.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Mora sold 24,285 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,285 shares of company stock worth $6,148,228. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Enphase Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC purchased a new position in shares of Enphase Energy in the fourth quarter worth approximately $26,000. CVA Family Office LLC purchased a new position in Enphase Energy during the fourth quarter valued at approximately $31,000. YHB Investment Advisors Inc. purchased a new position in Enphase Energy during the first quarter valued at approximately $35,000. Parkside Financial Bank & Trust grew its position in 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 purchasing an additional 176 shares in the last quarter. Finally, Covestor Ltd grew its position in Enphase Energy by 61.6% during 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. 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.