Wells Fargo & Company Has Lowered Expectations for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target trimmed by Wells Fargo & Company from $83.00 to $77.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

Other analysts have also issued reports about the stock. BMO Capital Markets decreased their price target on shares of Enphase Energy from $69.00 to $66.00 and set a “market perform” rating on the stock in a research report on Wednesday. Bank of America decreased their target price on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada cut their price target on Enphase Energy from $85.00 to $71.00 and set a “sector perform” rating for the company in a report on Friday, November 22nd. Piper Sandler decreased their price objective on Enphase Energy from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Janney Montgomery Scott cut Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $90.42.

Enphase Energy Price Performance

NASDAQ ENPH opened at $66.51 on Thursday. The stock has a 50-day simple moving average of $68.77 and a 200 day simple moving average of $88.79. Enphase Energy has a twelve month low of $58.33 and a twelve month high of $141.63. The stock has a market capitalization of $8.99 billion, a PE ratio of 151.16, a P/E/G ratio of 8.22 and a beta of 1.68. 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 issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.57 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%. Research analysts anticipate that Enphase Energy will post 0.92 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ENPH. Baillie Gifford & Co. raised its position in shares of Enphase Energy by 32.0% during the fourth quarter. Baillie Gifford & Co. now owns 8,371,790 shares of the semiconductor company’s stock worth $574,975,000 after acquiring an additional 2,028,691 shares during the last quarter. Nordea Investment Management AB raised its holdings in 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 worth $155,360,000 after purchasing an additional 1,258,778 shares during the last quarter. Mizuho Securities USA LLC lifted its position 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 valued at $50,737,000 after purchasing an additional 438,424 shares during the period. Aspex Management HK Ltd bought a new position in shares of Enphase Energy in the 3rd quarter valued at about $48,442,000. Finally, Montrusco Bolton Investments Inc. grew its position in shares of Enphase Energy by 93.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 878,558 shares of the semiconductor company’s stock worth $99,295,000 after buying an additional 424,327 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.