Enphase Energy (NASDAQ:ENPH) Given New $83.00 Price Target at Wells Fargo & Company

Enphase Energy (NASDAQ:ENPH) had its price target decreased by Wells Fargo & Company from $101.00 to $83.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the semiconductor company’s stock.

Other analysts have also issued reports about the stock. Piper Sandler lowered their price objective on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, November 22nd. StockNews.com upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Northland Securities lowered their price objective on shares of Enphase Energy from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Barclays lowered their price objective on shares of Enphase Energy from $129.00 to $114.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, TD Cowen lowered their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average target price of $97.86.

Enphase Energy Stock Down 5.2 %

NASDAQ ENPH opened at $69.66 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The stock has a market capitalization of $9.41 billion, a PE ratio of 158.32, a PEG ratio of 22.03 and a beta of 1.68. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63. The business’s 50-day moving average is $71.13 and its 200 day moving average is $94.68.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. Sell-side analysts forecast that Enphase Energy will post 0.94 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds have recently modified their holdings of the business. Nordea Investment Management AB grew its position in shares of Enphase Energy by 131.6% during the 4th quarter. Nordea Investment Management AB now owns 2,214,999 shares of the semiconductor company’s stock valued at $155,360,000 after acquiring an additional 1,258,778 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Enphase Energy during the 4th quarter valued at $470,000. GAMMA Investing LLC grew its position in shares of Enphase Energy by 131.9% during the 4th quarter. GAMMA Investing LLC now owns 4,940 shares of the semiconductor company’s stock valued at $339,000 after acquiring an additional 2,810 shares during the period. Peapack Gladstone Financial Corp bought a new stake in shares of Enphase Energy during the 3rd quarter valued at $292,000. Finally, Tidal Investments LLC grew its position in shares of Enphase Energy by 121.4% during the 3rd quarter. Tidal Investments LLC now owns 122,929 shares of the semiconductor company’s stock valued at $13,893,000 after acquiring an additional 67,411 shares during the period. 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.