Enphase Energy (NASDAQ:ENPH) Downgraded by Truist Financial to Hold

Truist Financial downgraded shares of Enphase Energy (NASDAQ:ENPH) from a buy rating to a hold rating in a research note published on Tuesday morning, MarketBeat Ratings reports. The firm currently has $135.00 target price on the semiconductor company’s stock, down from their previous target price of $210.00.

Several other analysts have also issued reports on ENPH. Morgan Stanley lowered their target price on Enphase Energy from $234.00 to $159.00 and set an equal weight rating on the stock in a research note on Wednesday, September 6th. TD Cowen decreased their target price on shares of Enphase Energy from $313.00 to $262.00 and set an outperform rating on the stock in a report on Friday, July 28th. Barclays decreased their price objective on shares of Enphase Energy from $221.00 to $155.00 and set an equal weight rating on the stock in a research report on Friday, July 28th. Wells Fargo & Company lowered Enphase Energy from an overweight rating to an equal weight rating and cut their target price for the stock from $230.00 to $171.00 in a research note on Friday, July 28th. Finally, The Goldman Sachs Group lowered their target price on Enphase Energy from $250.00 to $217.00 and set a buy rating for the company in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enphase Energy currently has an average rating of Moderate Buy and a consensus price target of $236.55.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $123.35 on Tuesday. The firm’s 50-day simple moving average is $147.26 and its 200 day simple moving average is $172.54. Enphase Energy has a fifty-two week low of $118.14 and a fifty-two week high of $339.92. The stock has a market cap of $16.82 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 1.40 and a beta of 1.52. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.22 and a current ratio of 3.44.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.21. The company had revenue of $711.12 million for the quarter, compared to analyst estimates of $726.94 million. Enphase Energy had a net margin of 20.48% and a return on equity of 71.20%. As a group, research analysts anticipate that Enphase Energy will post 3.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ENPH. Resurgent Financial Advisors LLC purchased a new stake in Enphase Energy in the fourth quarter worth approximately $29,000. GPS Wealth Strategies Group LLC bought a new position in shares of Enphase Energy during the first quarter worth $26,000. KB Financial Partners LLC bought a new position in shares of Enphase Energy during the first quarter worth $28,000. Geneos Wealth Management Inc. increased its holdings in shares of Enphase Energy by 1,400.0% in the second quarter. Geneos Wealth Management Inc. now owns 150 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Enphase Energy by 278.0% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 155 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 114 shares during the last quarter. 71.05% of the stock is owned by hedge funds and other 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 services.