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

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price objective decreased by investment analysts at Wells Fargo & Company from $101.00 to $83.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the semiconductor company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 19.15% from the company's current price.

Several other brokerages have also recently issued reports on ENPH. StockNews.com raised shares of Enphase Energy from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. TD Cowen lowered their target price on Enphase Energy from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Enphase Energy from $130.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley decreased their price target on shares of Enphase Energy from $93.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Friday, November 15th. Finally, Guggenheim downgraded Enphase Energy from a "neutral" rating to a "sell" rating and set a $73.00 target price on the stock. in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of "Hold" and a consensus target price of $97.86.

Enphase Energy Trading Down 5.2 %

Shares of ENPH traded down $3.85 during midday trading on Wednesday, hitting $69.66. 2,814,508 shares of the stock were exchanged, compared to its average volume of 3,050,215. The stock has a fifty day simple moving average of $71.13 and a 200 day simple moving average of $94.68. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The firm has a market cap of $9.41 billion, a P/E ratio of 158.32, a P/E/G ratio of 22.03 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 - Get Free Report) last released its quarterly earnings data 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). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm had revenue of $380.90 million for the quarter, compared to analysts' expectations of $392.51 million. During the same period last year, the firm posted $0.84 earnings per share. Enphase Energy's revenue for the quarter was down 30.9% on a year-over-year basis. On average, research analysts anticipate that Enphase Energy will post 0.94 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

A number of large investors have recently bought and sold shares of ENPH. Natixis Advisors LLC acquired a new stake in shares of Enphase Energy during the 2nd quarter worth about $1,076,000. TD Asset Management Inc raised its stake in shares of Enphase Energy by 2.6% in the second quarter. TD Asset Management Inc now owns 47,350 shares of the semiconductor company's stock valued at $4,721,000 after acquiring an additional 1,209 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Enphase Energy by 30.2% in the 2nd quarter. National Bank of Canada FI now owns 42,459 shares of the semiconductor company's stock worth $4,129,000 after acquiring an additional 9,857 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Enphase Energy by 20.1% in the 2nd quarter. Private Advisor Group LLC now owns 19,046 shares of the semiconductor company's stock worth $1,899,000 after acquiring an additional 3,182 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Enphase Energy during the 2nd quarter worth approximately $431,000. 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.