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

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

A number of other analysts have also recently commented on the company. Oppenheimer raised Enphase Energy from a market perform rating to an outperform rating and set a $133.00 price target for the company in a research report on Wednesday, February 7th. StockNews.com lowered Enphase Energy from a hold rating to a sell rating in a research note on Wednesday, February 7th. Barclays lifted their price target on Enphase Energy from $106.00 to $115.00 and gave the company an equal weight rating in a research note on Thursday, February 8th. Mizuho cut their price target on Enphase Energy from $150.00 to $148.00 and set a buy rating for the company in a research note on Friday, April 19th. Finally, BMO Capital Markets lifted their price target on Enphase Energy from $106.00 to $110.00 and gave the company a market perform rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy presently has a consensus rating of Hold and a consensus price target of $147.38.

Enphase Energy Trading Up 2.7 %

Shares of NASDAQ:ENPH opened at $113.48 on Tuesday. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $228.36. The business’s fifty day simple moving average is $119.28 and its 200-day simple moving average is $111.97. The company has a market capitalization of $15.43 billion, a PE ratio of 37.08, a P/E/G ratio of 3.07 and a beta of 1.47. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32.

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

Insider Transactions at Enphase Energy

In related news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the firm’s stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 124,948 shares in the company, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock worth $4,054,428 in the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC acquired a new position in Enphase Energy during the fourth quarter worth $26,000. CVA Family Office LLC acquired a new position in Enphase Energy during the fourth quarter worth $31,000. Geneos Wealth Management Inc. lifted its stake in Enphase Energy by 68.0% during the third quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 102 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 176 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in Enphase Energy by 1,447.6% in the fourth quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 304 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.