Truist Financial Trims Enphase Energy (NASDAQ:ENPH) Target Price to $130.00

Enphase Energy (NASDAQ:ENPH) had its price objective reduced by Truist Financial from $145.00 to $130.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

ENPH has been the subject of several other reports. Mizuho reduced their price target on Enphase Energy from $150.00 to $148.00 and set a buy rating for the company in a report on Friday, April 19th. Morgan Stanley boosted their target price on Enphase Energy from $97.00 to $106.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. DZ Bank assumed coverage on Enphase Energy in a report on Wednesday, April 17th. They issued a hold rating and a $116.00 target price for the company. BMO Capital Markets boosted their target price on Enphase Energy from $106.00 to $110.00 and gave the stock a market perform rating in a report on Wednesday, February 7th. Finally, Citigroup lowered Enphase Energy from a buy rating to a neutral rating and reduced their target price for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Enphase Energy has a consensus rating of Hold and an average price target of $137.41.

Enphase Energy Stock Up 3.8 %

Shares of Enphase Energy stock opened at $111.93 on Tuesday. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a P/E/G ratio of 3.16 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 4.19. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $192.22. The stock has a 50-day simple moving average of $118.22 and a 200-day simple moving average of $111.90.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. On average, equities research analysts expect that Enphase Energy will post 1.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In related news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of Enphase Energy stock in a transaction on Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the completion of the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Insiders have sold 54,285 shares of company stock worth $6,148,228 over the last three months. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Bogart Wealth LLC acquired a new position in Enphase Energy in the fourth quarter worth $26,000. Geneos Wealth Management Inc. lifted its stake in shares of Enphase Energy by 68.0% during the third quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 102 shares during the period. CVA Family Office LLC acquired a new position in shares of Enphase Energy during the fourth quarter valued at $31,000. YHB Investment Advisors Inc. acquired a new position in shares of Enphase Energy during the first quarter valued at $35,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 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.