Enphase Energy (NASDAQ:ENPH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Enphase Energy (NASDAQ:ENPH - Free Report) had its target price raised by Wells Fargo & Company from $42.00 to $45.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor company's stock.

Several other research analysts also recently commented on the stock. BNP Paribas downgraded shares of Enphase Energy from an "outperform" rating to an "underperform" rating in a research note on Tuesday, May 13th. Glj Research cut their target price on shares of Enphase Energy from $31.11 to $19.80 and set a "sell" rating on the stock in a report on Tuesday. Jefferies Financial Group cut their target price on shares of Enphase Energy from $44.00 to $37.00 and set an "underperform" rating on the stock in a report on Wednesday, April 23rd. Piper Sandler cut their target price on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Finally, Mizuho cut their target price on shares of Enphase Energy from $53.00 to $50.00 and set an "outperform" rating on the stock in a report on Monday, July 14th. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $55.86.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded down $0.10 on Thursday, reaching $35.41. The stock had a trading volume of 9,309,058 shares, compared to its average volume of 9,247,196. Enphase Energy has a 1 year low of $33.01 and a 1 year high of $130.08. The company has a market cap of $4.63 billion, a P/E ratio of 27.66 and a beta of 1.67. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.65. The business's 50 day moving average is $40.95 and its two-hundred day moving average is $52.20.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $363.15 million for the quarter, compared to the consensus estimate of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. Enphase Energy's quarterly revenue was up 19.7% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. As a group, research analysts anticipate that Enphase Energy will post 2.08 EPS for the current year.

Hedge Funds Weigh In On Enphase Energy

Hedge funds have recently bought and sold shares of the business. CX Institutional purchased a new position in Enphase Energy in the 1st quarter worth about $29,000. First Horizon Advisors Inc. grew its stake in shares of Enphase Energy by 83.0% during the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 258 shares during the period. SVB Wealth LLC bought a new stake in shares of Enphase Energy during the 1st quarter valued at about $38,000. Brooklyn Investment Group grew its stake in shares of Enphase Energy by 124.7% during the 1st quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 368 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Enphase Energy during the 4th quarter valued at about $47,000. Hedge funds and other institutional investors 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.