Enphase Energy (NASDAQ:ENPH) Price Target Cut to $83.00 by Analysts at Wells Fargo & Company

Enphase Energy (NASDAQ:ENPH) had its target price dropped by equities researchers at Wells Fargo & Company from $101.00 to $83.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 19.15% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. OTR Global raised shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Jefferies Financial Group lowered Enphase Energy from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $93.00 to $61.00 in a report on Thursday, November 7th. Bank of America cut their price objective on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets decreased their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Finally, Roth Mkm dropped their price target on shares of Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $97.86.

Enphase Energy Trading Down 5.2 %

Shares of NASDAQ ENPH opened at $69.66 on Wednesday. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 158.32, a PEG ratio of 21.92 and a beta of 1.69. The business has a 50 day simple moving average of $70.87 and a 200 day simple moving average of $94.51. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. 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 (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 analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same quarter last year, the firm earned $0.84 earnings per share. Enphase Energy’s revenue was down 30.9% compared to the same quarter last year. On average, research analysts predict that Enphase Energy will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its holdings in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock worth $32,000 after buying an additional 279 shares in the last quarter. UMB Bank n.a. grew its position in Enphase Energy by 784.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new stake in Enphase Energy during the 3rd quarter valued at $34,000. Stone House Investment Management LLC acquired a new stake in Enphase Energy during the 3rd quarter valued at $34,000. Finally, Quarry LP acquired a new position in Enphase Energy in the third quarter worth $37,000. 72.12% of the stock is owned by institutional investors.

Enphase Energy Company Profile

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.