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

Enphase Energy (NASDAQ:ENPH) had its target price lowered by stock analysts at Truist Financial from $145.00 to $130.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Truist Financial’s price target would suggest a potential upside of 21.30% from the company’s previous close.

A number of other analysts have also commented on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Enphase Energy in a research note on Thursday, January 4th. Roth Mkm reiterated a “buy” rating and set a $140.00 target price on shares of Enphase Energy in a research report on Thursday, April 18th. Wells Fargo & Company upgraded Enphase Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $98.00 to $141.00 in a research report on Monday, January 8th. Susquehanna reiterated a “positive” rating and set a $140.00 target price on shares of Enphase Energy in a research report on Friday, April 5th. Finally, B. Riley increased their target price on Enphase Energy from $121.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $141.00.

Enphase Energy Stock Down 5.6 %

Enphase Energy stock opened at $107.17 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The firm has a market capitalization of $14.57 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 3.16 and a beta of 1.47. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The stock’s fifty day moving average is $119.28 and its two-hundred day moving average is $111.97.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. Analysts predict that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Activity at Enphase Energy

In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were acquired at an average price of $120.54 per share, with a total value of $482,160.00. Following the purchase, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 34,285 shares of company stock worth $4,054,428. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds have recently bought and sold shares of the business. Bogart Wealth LLC acquired a new position in shares of Enphase Energy in the 4th quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its position in shares of Enphase Energy by 68.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 102 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Enphase Energy in the 4th quarter worth approximately $31,000. Parkside Financial Bank & Trust grew its position in shares of Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 176 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.