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

Enphase Energy (NASDAQ:ENPH) had its price target cut by Wells Fargo & Company from $83.00 to $77.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 15.50% from the stock’s previous close.

Several other analysts have also recently weighed in on ENPH. Citigroup lifted their price target on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Canaccord Genuity Group raised shares of Enphase Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $76.00 to $82.00 in a research report on Wednesday. TD Cowen lowered their price target on shares of Enphase Energy from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Northland Securities lowered their target price on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Finally, Canaccord Genuity Group cut Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Enphase Energy presently has a consensus rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Stock Up 2.1 %

ENPH traded up $1.40 during trading hours on Thursday, hitting $66.67. 1,570,910 shares of the company’s stock were exchanged, compared to its average volume of 3,773,559. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average is $68.88 and its two-hundred day moving average is $88.95. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 151.44, a PEG ratio of 8.22 and a beta of 1.68. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.15). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Sell-side analysts predict that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently bought and sold shares of ENPH. Harbor Capital Advisors Inc. bought a new position in Enphase Energy in the 3rd quarter valued at $1,273,000. Charles Schwab Investment Management Inc. boosted 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 valued at $99,496,000 after purchasing an additional 16,234 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Enphase Energy during the third quarter valued at $37,475,000. Mizuho Securities USA LLC raised its stake in Enphase Energy by 4,177.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock worth $50,737,000 after acquiring an additional 438,424 shares during the period. Finally, Impax Asset Management Group plc increased its position 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 purchasing an additional 31,008 shares during the last quarter. 72.12% of the stock is 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.